April 06, 2007	Friday	Rabi-ul-Awwal 17, 1428

KARACHI, April 5: ABN Amro announced on Thursday that it had increased its stake in Prime Bank by 2.77 per cent to 96.17 per cent. This followed the expiry of its cash tender offer on March 29.

At the close of the tender offer, ABN Amro had obtained an additional 7,581,894 shares, representing 2.77pc of the issued share capital of Prime Bank. “This marks the completion of the transaction,” an announcement of ABN Amro stated.

ABN Amro plans to merge its Pakistan operations into Prime Bank in the future, the announcement added.