The European Commission has approved, subject to conditions, the acquisition by Fortis Bank, a Belgian/Dutch financial services group, of certain assets of ABN AMRO. ABN AMRO, an international banking services group, is significantly active in the Netherlands, where Fortis is also prominent. In the proposed acquisition, Fortis will acquire ABN AMRO’s Business Unit Netherlands, Business Unit Private Clients, and Business Unit Asset Management. The Commission had expressed concern that the acquisition would reduce competition in certain markets, including the Dutch commercial banking and factoring markets. The Commission ultimately approved the transaction, however, subject to the up-front divestiture of ABN AMRO’s Dutch factoring subsidiary and part of its commercial banking business.