TITLE

ABN Amro picks Cleary in bid to buy Italian bank

AUTHOR(S)
Rothfield, Deborah
PUB. DATE
April 2005
SOURCE
Lawyer;4/18/2005, Vol. 19 Issue 15, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reveals that Cleary Gottlieb Steen & Hamilton is advising ABN Amro Inc., on its audacious bid to acquire Italian hank Banca Antonveneta. It is believed that, if successful, it would be the first time that a nondomestic bank has gained control of an Italian bank. ABN Amro is already a 13 per cent shareholder in Banca Antonveneta and has instructed Cleary to advise on its public offer to acquire the outstanding €7.545bn share capital of the Italian bank. Antonio Eazio, governor of the Bank of Italy, has traditionally vetoed attempts by foreign banks to invest in Italy and has given preference to domestic mergers or to the privatisation of state banks instead.
ACCESSION #
16850078

 

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