Belgian bank-insurer Argenta is reportedly considering a takeover of Dutch lender NIBC Bank, according to Belgian financial newspaper L’Echo.
The Antwerp-based group has allegedly appointed Bank of America to explore a potential bid for the The Hague-based merchant bank.
Neither Argenta, NIBC, nor their advisers have confirmed the discussions. Flemish banking analysts described the rumour as an “unlikely scenario”.
Nonetheless, it is not the first time that private equity owner Blackstone has been linked to a possible sale of NIBC – although those reports have also never been confirmed.
NIBC’s valuation is estimated between 1.4 billion and 1.6 billion euros. Previous market chatter suggested ABN AMRO had also expressed preliminary interest in NIBC, but no formal talks were ever reported.
This is the third time in recent months that a Belgian financial institution has been rumoured to be eyeing a Dutch peer. Last month, reports surfaced that KBC was considering a move for ABN AMRO, a rumour swiftly dismissed as “highly improbable”. In September, a similar story circulated about state-owned Belfius exploring a takeover of NIBC – a report that has since gone quiet.
