The Dutch government's financial holding company, NLFI (Stichting Administratiekantoor Beheer Financiële Instellingen), has revealed its intention to further reduce its stake in ABN AMRO Bank by selling depositary receipts or shares.

This move is part of a new pre-arranged trading plan aimed at decreasing NLFI's stake from its current 40.5% to around 30%.

As part of this updated plan, NLFI and ABN AMRO have already agreed to new terms. The parties decided that if NLFI’s stake falls below 15%, they will negotiate in good faith regarding NLFI’s information rights.

Additionally, once NLFI’s ownership drops below one-third, the state entity will no longer have the right to be informed about investments or divestments by ABN AMRO exceeding €50m ($54m).

The other requirements in the partnership agreement remain unchanged.

Company partnerships

UOB has joined forces with Institutes of Higher Learning (IHLs) and industry partners to establish an industry-first complete structured 12-month programme with tailored learning paths and mentoring to help colleagues move into new roles within the bank.

The Better U Pivot project is one of the primary initiatives introduced at UOB’s annual employee festival, Better U.

In addition, UOB established the Artificial Intelligence (AI) and Data Analytics Centre of Excellence (AIDA CoE), in cooperation with the Infocomm Media Development Authority (IMDA) and National University of Singapore (NUS), as an element of its employee training and reskilling programme.

The programme, which was first piloted in 2021, aims to reskill up to 500 employees over two years, starting in Q4 2024. The initiative, in partnership with IBF and Workforce Singapore, will provide in-depth skills analysis and tailored programmes to reskill employees in areas such as risk and compliance, sales, and customer experience.

"NLFI offers trade plan to cut its shares in ABN AMRO" was originally created and published by Private Banker International, a GlobalData owned brand.

 

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