ABN AMRO Group N.V. (GB:0RDM) has released an update.
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ABN AMRO has acquired the German private bank Hauck Aufhäuser Lampe, aiming to fortify its top-three wealth management position in Germany with a combined asset management worth approximately EUR 70 billion. The merger will enhance ABN AMRO’s Wealth Management, Asset Management, and Entrepreneur & Enterprise services, and is expected to yield significant cost and revenue synergies. The financial impact of the transaction includes a purchase price of EUR 672 million with expectations of increased return on equity and an overall positive effect on ABN AMRO’s financial profile.
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