UK regulator reviews RBS purchase of ABN Amro

August 17, 2009

RBS/    LONDON, Aug 16 (Reuters) – Britain’s financial regulator has launched a supervisory review of Royal Bank of Scotland’s <RBS.L> takeover of ABN Amro, the Scottish bank said on Sunday.
   The Financial Services Authority (FSA) told RBS in April it would carry out the review, the bank said in a note in its half-year results.
   “In April 2009 the FSA notified the group that it was commencing a supervisory review of the acquisition of ABN AMRO in 2007 and the 2008 capital raising,” the note said.
   RBS said “the group and its subsidiaries are co-operating fully with this review.”
   The bank led a European consortium that also included Santander and Fortis to buy Dutch bank ABN AMRO for 70 billion euros in October 2007, outgunning Barclays <BARC.L> to land the deal by paying a higher price mostly in cash.
   RBS paid about 10 billion pounds for its portion, mainly investment banking business.
   The consortium was criticised for not cutting its offer as the financial crisis began before the deal was sealed.
   RBS, which became financially stretched by the deal, was forced to surrender a majority stake to the government in return for a 20 billion pound taxpayer-funded bailout last year after it was hit by spiralling losses on risky credit-backed assets.
   The Daily Telegraph said the review would look into the “whys and wherefores” of RBS’ battle with Barclays and what due diligence was performed.
   No further details were available. The FSA would not comment.
   (Reporting by Avril Ormsby; Editing by Richard Chang) (( ; +44 207 542 1816; Reuters Messaging: )) Keywords: RBS FSA
Sunday, 16 August 2009 23:54:01RTRS [nLG166348 ] {C}ENDS


We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see

I visited several sites however the audio feature for audio songs current at this site is truly marvelous.|

I loved as much as you’ll receive carried out right here. The sketch is tasteful, your authored material stylish. nonetheless, you command get got an impatience over that you wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly very often inside case you shield this increase.

Please let me know if you’re looking for a article author for your weblog. You have some really great posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine. Please blast me an e-mail if interested. Thank you!|

My partner and I stumbled over here different website and thought I should check things out. I like what I see so now i’m following you. Look forward to looking at your web page again.|

Thanks for every other informative site. Where else could I am getting that type of information written in such a perfect manner? I have a mission that I am just now working on, and I’ve been on the glance out for such information.|

I believe that is among the most vital info for me. And i am satisfied reading your article. However should commentary on some general issues, The site style is great, the articles is really nice : D. Good job, cheers|

I’ll right away take hold of your rss as I can not in finding your e-mail subscription link or e-newsletter service. Do you’ve any? Please permit me know in order that I may just subscribe. Thanks.|

Have you ever considered writing an e-book or guest authoring on other sites? I have a blog centered on the same information you discuss and would really like to have you share some stories/information. I know my viewers would appreciate your work. If you’re even remotely interested, feel free to shoot me an email.|

It’s difficult to find experienced people for this topic, however, you seem like you know what you’re talking about! Thanks|

Appreciating the hard work you put into your blog and in depth information you provide. It’s nice to come across a blog every once in a while that isn’t the same out of date rehashed material. Great read! I’ve saved your site and I’m including your RSS feeds to my Google account.

If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

Greetings! Very useful advice in this particular article! It’s the little changes that will make the most important changes. Thanks a lot for sharing!|

Terrific work! That is the kind of information that should be shared across the internet. Disgrace on the seek engines for not positioning this put up higher! Come on over and seek advice from my web site . Thank you =)|

Thank you for some other informative blog. Where else may just I get that type of information written in such a perfect approach? I have a venture that I’m just now working on, and I have been on the glance out for such info.|

Yes! Finally something about %keyword1%.|

Download as many Films and TV Series as you like Legally!

Incredible points. Solid arguments. Keep up the amazing work.|

I am so glad I observed this blog. Thank you for the data. You make a great deal of excellent points in your article. Rated 5 stars!