June 27, 2017 / 4:43 PM / 2 months ago

Dutch state to reduce stake in ABN Amro to 63 pct from 70 pct

AMSTERDAM, June 27 (Reuters) - The Dutch state on Tuesday announced plans to sell down its stake in ABN Amro bank from 70 percent to 63 percent.

The Netherlands nationalised the Dutch parts of ABN Amro and former Fortis of Belgium during the 2008 financial crisis, and then partially reprivatised it via a 2015 initial public offering of shares.

The NL Financial Investments agency, which oversees Dutch government investments, plans to gradually sell the state's stake in ABN down to zero. (Reporting by Toby Sterling, editing by David Evans)

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