News Summary: ABN Amro to be reprivatized

News Summary: Netherlands government will reprivatize ABN Amro via stock market listing

Associated Press

INTO PUBLIC HANDS: ABN Amro NV will become a publicly traded company again, five years after the bank was nationalized as governments around the world stepped in to avert a global financial meltdown. A stock market listing will occur next year at the earliest.

INTO THE MAELSTROM A group of European banks acquired ABN for $99 billion just as the economic crises unfolded, seizing up markets from New York to Edinburgh. Edinburgh is the headquarters of the British bank that led the buyout, the Royal Bank of Scotland.

INTO THE RED: The Dutch government said it invested about 22 billion euros saving ABN from collapse. The bank is now worth about 15 billion euros after an aggressive restructuring that led to huge job cuts and the sale of foreign assets.

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