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Practice Area: Mergers & Acquisitions
Sector: Investment Management
Jurisdiction: European Union
Published: 30 April 2009
Law Firm: NautaDutilh
Overview
NautaDutilh advised Dutch banking giant ING on a Dutch state illiquid assets back-up facility that closed on 31 March 2009.
The plan allows ING to take a large portion of ‘toxic’ assets off its balance sheet, so that no further downgrade is needed to calculate the market value of these assets. On the other hand, the Dutch state’s acquisition of an 80% interest in ING’s Alt-A bond portfolio does not increase the Dutch national debt. NautaDutilh partners Michaela Ulrici, Erik Vermeulen and Walter Schellekens and their team structured this challenging transaction, which is the first of its kind in Europe.
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