Marcel's Feed
Dec 2, 2010

TNT to split, puts Express in shop window

AMSTERDAM, Dec 2 (Reuters) – Dutch mail and logistics firm
TNT (TNT.AS: Quote, Profile, Research, Stock Buzz) on Thursday detailed the planned seperation of its
Express activities from its mail activities and said it would
keep a 29.9 percent stake in the Express unit.

The move cuts down TNT to its old postal activities and
could make Express a takeover target in a new consolidation wave
in the global sector in which Fedex (FDX.N: Quote, Profile, Research, Stock Buzz) and United Parcel
Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) are big rivals and most growth is in
emerging markets such as in Asia.

Nov 29, 2010

Xinmao says has funding for Draka deal

AMSTERDAM/BEIJING (Reuters) – Chinese group Xinmao said it had financing for its proposed 1 billion euro ($1.3 billion) offer for Draka (DRAK.AS: Quote, Profile, Research, Stock Buzz), keeping alive prospects of a bid battle for the Dutch cablemaker.

Xinmao said on Monday Minsheng Banking Corp (1988.HK: Quote, Profile, Research, Stock Buzz), China’s No.7 listed lender, had confirmed its commitment to finance an offer for Europe’s largest optical fiber-maker Draka, which has attracted three suitors in the space of five weeks.

Nov 26, 2010
via FaithWorld

Dutch Catholic order admits abuse case hush money

Photo

(Photo: Windmills in the Dutch town of Kinderdijk, August 6, 2004/Guido Benschop)

An order of Dutch Catholic priests admitted on Friday to paying hush money to a victim of sexual abuse but the Dutch Catholic Church denied one of its bishops was involved in the case.

The NRC Handelsblad daily and Radio Netherlands Worldwide reported on Friday they had documents showing the victim was paid 16,000 euros (13,500 pounds) in 2003 to keep the case quiet. The report said that the unidentified victim, now 76, was abused by seven priests — including the late Bishop Johannes ter Schure — between 1948 to 1953.

Nov 25, 2010

Dutch seek fugitive Nazi criminal from Germany

AMSTERDAM (Reuters) – The Netherlands will use a new legal procedure to seek the extradition from Germany of an 88-year-old Dutchman who was jailed for killing Jewish prisoners at a Nazi transit camp, but escaped from prison in 1952.

The extradition of former SS soldier Klaas Carel Faber has been hindered by a German law preventing extradition of German nationals for war crimes; though Germany itself sentenced another former Dutch Nazi, Heinrich Broere, to life in prison in March this year.

Nov 23, 2010

Ireland euro exit not an option – Dutch finance minister

AMSTERDAM (Reuters) – Throwing Ireland out of the euro zone or splitting the single currency area into a weak and a strong bloc should be ruled out as potential responses to Dublin’s debt crisis, the Dutch Finance Minister said on Tuesday.

“Throwing Ireland out of the euro is not a good idea, it would provoke a chain of unwanted effects,” Jan Kees de Jager told the RTL 7 television broadcaster.

Nov 23, 2010

Ireland euro exit not an option -Dutch FinMin

AMSTERDAM, Nov 23 (Reuters) – Throwing Ireland out of the
euro zone or splitting the single currency area into a weak and
a strong bloc should be ruled out as potential responses to
Dublin’s debt crisis, the Dutch Finance Minister said on
Tuesday.

“Throwing Ireland out of the euro is not a good idea, it
would provoke a chain of unwanted effects,” Jan Kees de Jager
told the RTL 7 television broadcaster.

Nov 22, 2010

Dutch family holds key to Chinese offer for Draka

AMSTERDAM, Nov 22 (Reuters) – A secretive Dutch investment
fund holds the key to the future of bid target Draka (DRAK.AS: Quote, Profile, Research, Stock Buzz).

Flint Beheer has a 48.5 percent stake in the Dutch cable
group which is being bid for by Italy’s Prysmian and Chinese
group Xinmao [ID;nLDE6AL1BH]. It is the investment vehicle of
the Fentener van Vlissingen family.

Nov 19, 2010

ABN AMRO underlying 9-month net profit rises

AMSTERDAM (Reuters) – ABN AMRO, the state-owned rump of the once leading Dutch international bank, said on Friday nine-month underlying net profit nearly quadrupled due to higher interest income, lower loan losses and gains on a debt buyback.

However, due to heavy charges it took in the second quarter for a mandatory sale of part of the Dutch commercial bank and for restructuring costs, the bank’s underlying profit of 768 million euros turned to a net loss of 627 million euros, versus a net profit of 352 million a year ago.

Nov 10, 2010

ING plans two insurance IPOs in U.S. and Europe

AMSTERDAM (Reuters) – Dutch banking and insurance group ING (ING.AS: Quote, Profile, Research, Stock Buzz) on Wednesday said it was planning two initial public offerings for its insurance activities as part of a mandatory split-up imposed because of its state bailout.

“While the option of one IPO remains open, we are going to prepare ourselves for a base case of two IPOs for our insurance business,” chief executive Jan Hommen said in a statement.

Nov 10, 2010

ING plans two insurance IPOs, in US, Europe

AMSTERDAM, Nov 10 (Reuters) – Dutch banking and insurance
group ING (ING.AS: Quote, Profile, Research, Stock Buzz) on Wednesday said it was planning two initial
public offerings for its insurance activities as part of a
mandatory split-up imposed because of its state bailout.

“While the option of one IPO remains open, we are going to
prepare ourselves for a base case of two IPOs for our insurance
business,” chief executive Jan Hommen said in a statement.

    • About Marcel

      "Marcel is a graduate of the University of Amsterdam and joined Reuters in 1986. He was based in the Netherlands, Britain, Switzerland and France while also reporting from China, Japan, U.S., Portugal, Austria, Germany, Belgium, Luxemburg, Spain and Turkey. An amateur chef in the kitchen and chief at work, he keeps fit with Swedish gym (Friskis & Svettis) and relaxes by reading."
      Hometown:
      Amsterdam
      Joined Reuters:
      June 1986
      Languages:
      English, Dutch, French, German, Italian
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