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RBS/ABN-ABN Amro Craigs stake sale

US$0.00 m
  • Entry date - Thursday, 18 June 2009
  • Jurisdiction - New Zealand
  • Practice - Structured Finance
  • International restructure involved stake sale

  • Firm
    Bell Gully
  • Client
    ABN Amro
  • Lead Lawyers
    David Boswell, David Craig
  • Role
    Legal adviser to stake seller
  • Firm
    Bell Gully
  • Client
    Royal Bank of Scotland
  • Lead Lawyers
    David Boswell, David Craig
  • Role
    Legal adviser to stake seller
  • Firm
    Russell McVeagh
  • Client
    ABN Amro Craigs
  • Lead Lawyers
    Joe Windmeyer
  • Role
    Legal adviser to ABN Amro Craigs


DEAL SUMMARY

  • International restructure involved sale of RBS and ABN’s stake in ABN Amro Craigs, unwinding or novation of contracts, consideration of Reserve Bank, regulatory matters and negotiating ongoing strategic alliance between RBS, ABN and the Craigs retail business

  • RBS and ABN’s withdrawal from about 30 countries they operate in will take five years

  • Deal closed April 2009



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