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ABN-AMRO Diamond and Jewelry Division -- Sold?
December 5, 2007
The fate of ABN-AMRO’s all-important Diamond and Jewelry division may be becoming clearer. According to Flanders Today:
Fortis Bank, the leading bank insurer, has taken over the Antwerp-based International Diamond and Jewelry Group (IDJG), also known as the Diamant Bank, as part of its acquisition of the local activities of the Dutch ABN Amro bank. The IDJG is a world leader in financing the diamond market.
However, according to this piece, Fortis is denying comment. I am trying to get an official statement.
One rival banker noted that the acquisition, if it is indeed for real, would raise serious questions, at least for ABN’s U.S. clients, since Fortis has a limited U.S. presence. We’ll keep you posted.
UPDATE: A Fortis spokeswoman says "it's still too early to speculate."
Posted by Rob Bates on December 5, 2007 | Comments (0)
