ABN-Barclays headquarters in Amsterdam

20th March 2007, Comments 0 comments

20 March 2007, AMSTERDAM – The headquarters of European bank combination ABN Amro and Barclays will be in Amsterdam. The two banks, in exclusive negotiations on a merger at the moment, have also reached agreement on the legal structure for the new company – a British public limited company.

20 March 2007

AMSTERDAM – The headquarters of European bank combination ABN Amro and Barclays will be in Amsterdam. The two banks, in exclusive negotiations on a merger at the moment, have also reached agreement on the legal structure for the new company – a British public limited company.

Sources close to the negotiations on Tuesday have reported this to the Financieele Dagblad.
    
The banks have been in talks for some time and the exclusivity of the negotiations is guaranteed for a period of 30 days.

The tempo of the talks accelerated last weekend after agreement was reached on the headquarters and the legal structure. The regulatory authority for both banks will be De Nederlandsche Bank.

The parties have chosen for a one-tier board, on which supervisory and executive board members serve on a single board of directors. Anglo-Dutch companies, like Shell, often make use of this kind of structure.

The CEO for the new combination will come from Barclays. The first chairman will come from ABN Amro. No names are being mentioned at the moment.

[Copyright Expatica News 2007]

Subject: Dutch news

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