The Netherlands’ government has sold a major part of its stake in ABN Amro, taking advantage of a rally in the shares of the bank. The government sold 7% stake raising about 1.53 billion euros ($1.8 billion). The sale brought down the government’s holding in the bank to about 56%. The government is trying to recoup some of the 22 billion euros spent propping up the bank during the financial crisis. Once one of the world’s biggest banks, ABN Amro has refocused its business on domestic lending since its near-collapse. Almost two thirds of its loans relate to Dutch real estate, where limited supply, high demand and low interest rates have driven up prices.
