Deals
Crisis Era Casualties Converge in ABN Amro Bid for Germany's IKB
- ABN Amro is said to be in talks to buy IKB from Lone Star
- Both lenders participated in infamous ‘Abacus’ securities
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What a difference a decade makes.
Almost exactly 10 years ago, IKB Deutsche Industriebank AG became the first German lender to fall victim to the subprime mortgage crisis, doomed by exotic investments including those sold by Goldman Sachs Group Inc.’s Fabrice “Fabulous Fab” Tourre. Now it may be taken over by ABN Amro Group NV, another bailed-out crisis-era survivor that also participated in Tourre’s infamous “Abacus” deal.