June 12, 2017 / 4:04 PM / 4 months ago

Dutch government selling ASR in ABB

June 12 (IFR) - The Dutch government is selling 16.7% of ASR tonight in an accelerated sale managed by ABN AMRO, Citigroup, Deutsche Bank and HSBC. On offer are 25m shares with price reference to market, which implies a deal size of up to €741.875m, based on today’s closing price of €29.675.

ASR will buy and cancel 3m shares as part of the transaction. NLFI, the state holding company, will reduce its stake to around 20.1% from 36.8% at present. Rothschild is financial adviser to NLFI. (Reporting by Graham Fahy)

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