Dutch bank ABN Amro NV said on Saturday it has exercised its right to acquire the remaining 1.1 percent stake in Banca Antonveneta after gaining a majority control of the Italian bank in March.
In a tender offer that ended on March 31, ABN acquired 98.9 percent of Antonveneta valued at 8.1 billion euros, enough to require remaining shareholders to tender their shares.
"The acquisition of the remaining shares is in line with Italian regulations after ABN Amro obtained more than 98 percent of Banca Antonveneta in its mandatory public offer," the biggest Dutch bank said in a statement. "The price has been set by an expert appointed by the Chairman of the Tribunal of Padua at 26.50 euros a share."
The owners of the 3.4 million shares may obtain payment directly from their depository banks, ABN said. ABN became the first foreign bank to buy a major Italian lender, having won control of Antonveneta in late March after a protracted take-over battle with Banca Popolare Italiana last year.
ABN plans to sell its 7.7 percent stake in Capitalia, Italy's fourth largest bank, daily Finanza e Mercati reported on Saturday without saying how it got the information. "We will make a decision on our stake in Capitalia before October," ABN Amro spokesman Niel Moorhouse told Reuters. Capitalia's shareholders' pact expires on October 22.