Legal Merger 2019
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ABN AMRO simplified the group structure through the execution of a legal merger between ABN AMRO Bank N.V. ("ABN AMRO Bank") and ABN AMRO Group N.V. ("ABN AMRO Group"). The legal merger improves regulatory capital ratios (including the leverage ratio), optimise administrative processes and lower administrative costs.
In the legal merger ABN AMRO Group ceased to exist. As a result, shareholders in ABN AMRO Group became shareholders in ABN AMRO Bank and depositary receipts (DRs) now represent shares in ABN AMRO Bank and retain the listing on Euronext Amsterdam. Holders of debt instruments continue to hold instruments issued by ABN AMRO Bank. The legal merger had no other material effects.
A legal merger is subject to approval from depositary receipt holders (DR holders), shareholders and regulators, including DNB and ECB. Subject to all necessary approvals, including regulatory approvals, the merger is expected to be executed in the course of 2019.
More information on the merger can be found in the circular (link below) and related documents.
The merger brings considerable benefits to the ABN AMRO organization, while it does not affect the rights of shareholders and DR Holders. Therefore, the executive board and supervisory board of ABN AMRO Group and ABN AMRO Bank unanimously supported the merger. Stichting administratiekantoor beheer financiële instellingen (NLFI) supported and voted in favour of the merger. Stichting Administratiekantoor Continuïteit ABN AMRO Group (STAK or Trust Office) facilitated the decision-making required for the merger.
Important Dates
29 June 2019: merger became effective, ABN AMRO Group N.V. ceased to exist and ABN AMRO Bank N.V. became the remaining entity. Each DR represents one share in ABN AMRO Bank N.V.
28 June 2019: notary executed the merger deed