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Barclays-ABN Amro merger may see LaSalle sold - report


Published :
Wed, 21 Mar 2007 08:00
By : Agencies
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LONDON (AFX) - A merger between Barclays PLC and ABN-Amro Holdings NV could be sweetened by a 10 bln stg sale of the Dutch bank's US business LaSalle, the Times said citing sources.

The paper said that Barclays executives are understood to be open-minded about asset sales and regard LaSalle as both non-core and capable of generating a big merger dividend to appease shareholders on both sides. Chicago-based retail bank LaSalle could be worth up to 23 bln usd, according to analysts, with Bank of America Corporation mooted as a serious prospective buyer. Given the relative sizes of Barclays and ABN, that could generate cash of about 5.5 bln stg or more for Barclays shareholders and 4.5 bln stg for ABN shareholders.

alexander.ferguson@thomson.com

af/slm

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