AMSTERDAM Jan 12 The Dutch government said on
Thursday it is selling a stake of up to 13.6 percent in
insurance company ASR, worth approximately 468
million euros ($500 million) at current share prices.
The Netherlands Financial Investments (NLFI) agency said the
sale to institutional investors via an accelerated bookbuilding
that will close before the start of trade on Friday will reduce
the government's stake in ASR to 50.1 percent.
ASR said in a separate statement it intended to purchase 3
million of the 20.4 million shares on offer from the government
in a buyback.
ASR, once a subsidiary of the now-defunct Fortis
group of Belgium, was nationalised by the Dutch state during the
2008 financial crisis. The state sold a 40 percent stake in a
reprivatisation in June.
($1 = 0.9377 euros)
(Reporting by Toby Sterling; Editing by Greg Mahlich)