AMSTERDAM – LAWFUEL – Law News Network – Allen & Overy has advised ABN AMRO Bank on its proposed divestiture of Bouwfonds to SNS Reaal and Rabobank with a total deal value of approximately EUR 1.7 billion. This represents one of the largest real estate deals in Dutch history.
ABN AMRO Bank intends to sell the property and asset management activities of its Bouwfonds subsidiary to Rabobank. The transaction concerns Bouwfonds Property Development, Bouwfonds Asset Management, Bouwfonds Fondsenbeheer, Rijnlandse Bank and Bouwfonds Holding. In addition, ABN AMRO Bank intends to sell Bouwfonds Property Finance to SNS REAAL. Both transactions are subject to the approval of the relevant supervisory and competition authorities and works councils and are expected to close before the end of the year.
The Allen & Overy team was led by partners Jan Louis Burggraaf and Robert Jan Lijdsman. They were assisted by Jetty Tukker, Marianne Drijgers, Wouter Ofner, Coen Thomas and Carolijn Ulmer.
Corporate partner Jan Louis Burggraaf commented: “We are very pleased to work with ABN AMRO on its divestiture of Bouwfonds. The team worked very efficiently and we particularly enjoyed working with the very committed and highly sophisticated ABN AMRO team consisting of representatives of both business development and corporate finance.”
Robert Jan Lijdsman, corporate partner, commented: “It has been a privilege to be an active advisor in one of the largest real estate deals in Dutch history and it shows our market position in M&A in general, and real estate transactions in particular.”
For further information, please contact Dorien Wiltjer ([email protected]) on +31 (0)20 674 1197.