SINGAPUR (dpa-AFX) - Julius Baer Group Ltd. (JBARF.PK, JBAXY.PK), DBS Group Holdings Ltd. (DBSDY.PK, DBSDF.PK) and LGT Bank are considering bids for ABN Amro Group NV's (ABNYY.PK) private-banking business in Asia, Bloomberg reported citing people with the matter.
The banks have expressed interest in the ABN Amro unit and will study more detailed information on its business. ABN Amro hopes to announce a deal by year-end to minimize uncertainty for its private bankers and clients.
The sale could fetch more than $300 million, based on the valuations of other recent deals, the report said.
Copyright RTT News/dpa-AFX