Achmea acquires part of the banking operations of a.s.r. bank
March 21st, Achmea and a.s.r. publicly announced that Achmea Bank will acquire a part of the banking operations of a.s.r. bank. The banking operations consist of a liability portfolio with savings of EUR 1.7 billion and approximately 125,000 customers, and an asset portfolio consisting of mortgages with a volume of EUR 1.5 billion. Jos Baeten, CEO of a.s.r., stated the transaction is a crucial step in scaling back a.s.r.'s banking operations. Closing is expected to take place in the second half of 2019. After a successful completion of the transaction, it is the intention that a.s.r. bank will be dissolved and that its banking license will be terminated.
NautaDutilh assisted longstanding client a.s.r. in this asset deal. The NautaDutilh team consisted of Lieke van der Velden, Edger Kleijer, Jacqueline Clement, Jos Somers (Corporate M&A), Michaëla Ulrici, Duco Harmsen (FCS Structured Finance), Larissa Silverentand, Juliet de Graaf (Financial Law) Gijs van Nes (Employment), Edward Rijnhout, Tom Vincken and Sjuul Jentjens (Taxation). ABN AMRO Corporate Finance acted as financial advisor to a.s.r.
Achmea was assisted by Rutgers&Posch, the Rutgers&Posch team consisted of Kees Westermann, Lennaert Posch, Babette Waltman and Annelies van Doorn.
Please find the press release attached, please click here for the article in FD (in Dutch).