Published: 06:00 PM CET
Today, Van Lanschot Kempen announced that the sale to De Goudse Verzekeringen of its 49% stake in Van Lanschot Chabot | Mandema & Partners (VLCMP) has been completed. All conditions for the completion of the sale, which was announced on February 19, have been met. This transaction fits in with Van Lanschot Kempen's strategic focus on wealth management.
The transaction generates a book profit of around €15 million and possibly also comes with a minor earn-out in the first half of 2020. In 2017 and in 2018, VLCMP contributed -€0.4 million and €2.4 million respectively to Van Lanschot Kempen's net profit (IFRS). The sale has only a limited positive impact on the CET 1 ratio.
VLCMP today also announced its new name: VLC & Partners.