Dutch state sells Saudi bank stake, acquired during ABN Amro nationalisation

DutchNews, November 21, 2019 

Amsterdam’s Zuidas business district. Photo: DutchNews.nl

The Dutch state has sold its stake in Saudi bank SABB for €523m, finance minister Wopke Hoekstra has told MPs. 

The shares in SABB were acquired indirectly when the government stepped in to nationalise ABN Amro and Fortis following the abortive takeover by a consortium lead by Royal Bank of Scotland in 2008. 

Excluding costs and settlements, the deal will generate €411m for the treasury, the minister said. 

The 75 million shares were told earlier this week, ‘ending the odd situation in wihch the Dutch state had a shareholding in a Saudi bank,’ Hoekstra said. The name of the buyer has not been made public.