Bouwfonds to raise more than US$2bn

ABN-AMRO, the Dutch financial services group, is hoping to raise in excess of US$2bn with the sale of its Dutch mortgage and real estate subsidiary Bouwfonds Nederlandse Gemeenten (BNG), according to a source familiar with the situation. The auction is ongoing but details about bidders were not released

In 2000, ABN-AMRO Holding acquired the entire share capital of BNG for a total value of €1.2bn (US$1.3bn at the time) from Dutch municipalities.