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ABN Amro acquires Germany’s Hauck Aufhäuser Lampe in €672m deal

  • Acquisition Details:
    • Price: €672 million
    • Seller: Fosun International
    • Buyer: ABN Amro, one of the Netherlands’ largest banks
  • Strategic Goals and Impact:
    • Combination with Bethmann Bank: Merging HAL with ABN Amro’s German private banking arm, Bethmann Bank
    • Market Position: Aims to solidify a “top three position” in the German wealth management sector
    • Asset Management: Combined entity expected to manage approximately €70 billion in assets
      • HAL’s contribution: €26 billion in assets and €2 billion in loans
  • Complementary Strengths:
    • Private Banking Services: HAL’s services and presence complement ABN Amro’s existing client base and geographical coverage in Germany
    • New Sector Entry: ABN Amro to enter asset servicing, focusing on custody solutions for illiquid assets
    • Corporate Banking: Plans to leverage HAL’s expertise in the German midcap sector and investment banking services
  • CEO Statement:
    • Robert Swaak: Describes the acquisition as a rare opportunity to scale German activities and strengthen market position
  • Timeline and Exclusions:
    • Expected Closing: Q1 2025, subject to regulatory approvals
    • Exclusions: Deal does not include HAL subsidiaries providing AIFM/Manco and fund administration services

The acquisition is a strategic move for ABN Amro to enhance its wealth management and corporate banking presence in Germany, leveraging HAL’s strengths and market position.

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