Allen & Overy has advised ABN AMRO Bank N.V. on the acquisition by BGL BNP Paribas of all the outstanding shares in ABN AMRO Bank (Luxembourg) S.A. and its fully owned subsidiary ABN AMRO Life S.A.

ABN AMRO is the third largest bank in the Netherlands and serves retail, private and corporate banking clients with a focus on the Dutch market and selective international markets.
With the sale of its Luxembourg business, ABN AMRO intends to focus even more on its core private banking markets in North-West Europe to realise benefits of scale. The activities of ABN AMRO Life S.A. will be transferred to BGL BNP Paribas' life insurance division Cardif Lux Vie. This transaction is another illustration of the high level of M&A activity in Luxembourg's private banking sector.
 
The transaction is subject to regulatory approvals and is expected to be completed in the third quarter of 2018.

The Allen & Overy team was led by Amsterdam based partner Herald Jongen (Corporate/M&A) and Luxembourg based partner Andre Marc (Banking), counsel Jacques Graas (Corporate/M&A) and associate Pol Theisen (Corporate/M&A). The broader team included in Amsterdam partners Kees Schillemans (Antitrust) and Sophie Roozendaal (Corporate), counsel Bas Jennen (ICM) and associates Aziz Boubouh (Corporate) and Floris de Wit (IP/IT), and in Luxembourg partner Patrick Mischo (tax), counsels Gilles Dall'Agnol (Employment), Thomas Berger (Regulatory) and Catherine Di Lorenzo (IP/IT), senior associate Christophe Ernzen (Employment) and associates Severine Brasseur (Coporate), Franz Kerger (Tax), Luis Munoz (tax) and Baptiste Aubry (Regulatory).
 
ABN AMRO's inhouse advice was provided by Freek van Zoest and Bob te Dorsthorst.