ABN AMRO sells majority stake in Stater to Infosys
28 Marzo 2019 - 11:56PM
ABN AMRO announced today
that it has sold 75% of its shares in Stater to
Infosys.
Stater is ABN AMRO's administrative mortgage
services provider, providing services for over 1.3 million
mortgage loans to more than 30 mortgage providers in the Dutch
market. Infosys is an IT and business services provider that
operates worldwide and is already active as a provider of
administrative mortgage services in other countries.
Retaining a 25% interest in Stater, ABN AMRO will
continue to be a strategic shareholder. Christian Bornfeld,
member of the Executive Board of ABN AMRO: "While mortgages are a
key product for ABN AMRO, providing administrative mortgage
services is not a core activity. That's why we are very pleased
with Infosys as Stater's new majority shareholder. ABN AMRO will
keep a strategic interest of 25% and will continue to be an
important client to Stater."
Erwin Dreuning, Managing Director of Stater: "We
are eager to welcome Infosys as a new shareholder. As they are
already active in mortgage administration services, Infosys offers
specific expertise. The combined forces of ABN AMRO, Infosys and
Stater ensures we have a solid basis to pursue our plans for
further development of our service offering. Furthermore, it opens
up opportunities for us to grow and service other clients."
The transaction will result in a gain on disposal
and have a positive, though modest, impact on ABN AMRO's CET1
capital ratio. The closing date of the transaction is expected in
the second quarter.
Questions / further
information
ABN AMRO Press Office
+31 (0)20
6288900
pressrelations@nl.abnamro.com
ABN AMRO Investor Relations +31 (0)20
3837244
investorrelations@nl.abnamro.com
PBUK28-03-Stater
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABN AMRO via Globenewswire
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