Deals
Julius Baer, DBS Said to Vie for ABN Amro’s Asia Wealth Arm
- LGT Bank also weighing bid for Asia private-banking business
- ABN Amro may fetch over $300 million, targets deal by year-end
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Julius Baer Group Ltd., DBS Group Holdings Ltd. and LGT Bank are considering bids for ABN Amro Group NV’s private-banking business in Asia, people with knowledge of the matter said.
The banks have expressed interest in the ABN Amro unit and will study more detailed information on its business, according to the people, who asked not to be identified because the process is private. ABN Amro hopes to announce a deal by year-end to minimize uncertainty for its private bankers and clients, the people said.