NLFI’s last €1bn ASR block a blowout that could almost have been priced flat

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By Aidan Gregory
13 Sep 2017

ASR Nederland, the Dutch insurer, has returned to full private ownership after NLFI, the organisation that manages the investments of the Kingdom of the Netherlands, sold its final 20.5% stake via an accelerated bookbuild on Wednesday evening that attracted over 150 investors.

ABN Amro, Citigroup, Deutsche Bank and HSBC were bookrunners. Rothschild was financial adviser to NLFI. The leads did not conduct any wallcrossing, as the trade had been widely expected.

“People were expecting a full exit and were happy that it materialised,” said a banker on the deal.

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