KBC’s Antwerp Diamond Bank to Shut U.S. Office, CEO Says
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Antwerp Diamond Bank, a unit being sold by KBC Groep NV, plans to shut its office in New York within six months, as potential acquirers prefer emerging markets over the U.S.
The closure, announced to clients today, is “linked to the ongoing negotiations” with possible buyers of the diamond bank, Pierre De Bosscher, chief executive officer of the unit, said in an interview. The focus of these investors is on markets in “the Far East and Middle East” rather than the U.S., he said.