(The following press release from SNS Reaal NV was received by e-mail. The sender verified the statement.) SNS REAAL transfers Property Finance to the State SNS REAAL announces that the shares in Property Finance will be transferred to the Dutch State on 30 December 2013. The State will subsequently transfer these shares to NLFI (NL Financial Investments). After the nationalisation of SNS REAAL on 1 February 2013, the Minister of Finance announced that the real estate and real estate loan portfolio would be separated. The spin-off of the Property Finance activities is part of the restructuring plan for SNS REAAL, which the Dutch State submitted to the European Commission (EC) on 19 August 2013. The EC approved the transfer on 19 December 2013. As per 30 December 2013, the Dutch State will guarantee the funding by SNS Bank to Property Finance.
SNS REAAL TRANSFERS PROPERTY FINANCE SHARES TO DUTCH STATE
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