Photo
Business Update

Reuters business newsletter, your daily business coverage.

Subscribe

Kuwait's NBK still eyes Saudi ABN Amro stake

Sun Mar 25, 2007 5:18am EDT

Reporter's Notebook

[-] Text [+]

DUBAI (Reuters) - National Bank of Kuwait (NBK) said it is still interested in buying ABN Amro's stake in Saudi Hollandi Bank as the Gulf's third-largest lender looks to the enter the kingdom.

"We would be interested to buy ABN Amro's shares," George Nasra, chief executive of NBK's investment banking unit said at the Reuters Middle East Investment Summit in Dubai on Sunday.

A bid to buy the Dutch bank's 40 percent stake in the Saudi lender is "still with them," Nasra said, declining to give further details.

Barclays Plc said earlier this month it was in exclusive talks with ABN Amro to buy the Amsterdam, Netherlands-based lender.

NBK Chief Executive Ibrahim Dabdoub said in November ABN had invited the Gulf's third-largest lender by market value to bid for the stake, saying Standard Chartered Plc had also put in an offer.

 
 
 
India Investment Nov 24 - 26, 2008 Country Summits
Health Nov 17 - 20, 2008 Health
Global Finance Nov 10 - 13, 2008 Financial Services / Exchanges
China Summit Nov 05 - 7, 2008 Country Summits
Middle East Investment Nov 03 - 5, 2008 Country Summits

What are Summits?

Reuters Summits are your direct link to top business leaders, investors and regulators. Our journalists interview heavyweights in a particular industry, spin out hard-hitting breaking news and sharp analysis that can often move markets. If you want to understand what the insiders are thinking, look for Reuters Summits.  Launch Full Video 

 

Stay connected. Get e-mailed alerts with schedules, speaker lists, and headlines from upcoming and live Industry Summits.