Dutch Gov't Nationalizes Financial Co. With $5B Package

Law360, New York (February 01, 2013, 4:35 PM ET) -- The Netherlands has nationalized banking and insurance group SNS Reaal NV at the cost of at least $5 billion, helping the troubled financial group avoid bankruptcy and preventing financial instability for the country, the Dutch government announced Friday.

According to the announcement by the Dutch Ministry of Finance, ongoing problems with SNS’ real estate financing arm had put the company — the country’s fourth-largest financial group, with about €134 billion ($183 billion) in total assets — at acute risk of going bankrupt, threatening the Dutch financial...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required