UK treasury may buy 33 - 50% of RBS Securities Romania

Marţi, 25 noiembrie 2008, 14:08 English | Business

The Romanian National Securities Commission allows the UK Treasury to acquire between 33 and 50% of the social capital or the votes in the board of the RBS Securities Romania financial services society. The operation will take place after the UK Treasury becomes a shareholder of the Royal Bank of Scotland banking group.

ABN Amro Romania changed its name into Royal Bank of Scotland (RBS) on October 15, after the Dutch bank ABN Amro was bought by a consortium formed by Royal Bank of Scotland, Fortis and Santander with some 70 billion Euros. The segments of the former ABN Amro were divided between the buyers.

ABN's activities in Romania were acquired by the Royal Bank of Scotland, a group nationalized by the British Government at the middle of October, in exchange for a 25 billion Euros aid.