EU Approves Netherlands' ABN-Fortis Finance Plan

Law360, New York (February 8, 2010, 3:27 PM EST) -- European Union competition officials temporarily approved on Monday a €6.9 billion ($9.5 billion) recapitalization package that allows ABN Amro Bank NV and Fortis Bank Nederland (Holding) NV to complete their long-planned merger, as regulators continue to investigate antitrust concerns related to the Dutch government's takeover of ABN.

The European Commission in Brussels said it was approving the package as “urgent rescue aid” until July of this year. The package, which is funded by the government of the Netherlands, helps finance the separation of ABN Amro from...
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