Press Release: State aid: Commission temporarily approves additional recapitalisation package in favour of ABN AMRO and Fortis Bank Nederland

The European Commission has temporarily approved under EU state aid rules a recapitalisation package of €6.9 billion in favour of ABN AMRO and Fortis Bank Nederland until 31 July 2010 as urgent rescue aid. The additional recapitalisation package is necessary to finance the separation of ABN Amro from its mother company and the integration costs resulting from the merger between FBN and ABN Amro. At the same time, the Commission extended the scope of its in-depth investigation, opened in April 2009 into an aid package related to the purchase of Fortis Bank Nederland by the Dutch state, to include these additional measures. This will allow the Commission to assess in detail the combined effect of all the support measures in favour of Fortis Bank Nederland and ABN Amro and give interested parties an opportunity to comment on the additional measures. The opening or extension of an in-depth investigation does not prejudge the outcome of the procedure.