BREAKING NEWS

Dutch state sells Saudi British Bank stake

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AMSTERDAM (Reuters) – The Dutch state on Thursday said it had sold its last remaining shares in Saudi British Bank (SABB) <1060.SE>.

It has sold more than 75 million shares since it announced its intention to wind down its stake on May 22.

The last batch of 55 million shares sold for 28 riyal each per share this week, the finance ministry said.

The Dutch state acquired its stake in SABB with the nationalisation of the Dutch operations of Belgian bank Fortis in 2008, a year after Fortis took over large parts of Dutch bank ABN Amro <ABNd.AS>.

(Reporting by Bart Meijer; editing by Jason Neely)

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