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Infosys To Buy 75% Of Shareholding In ABN AMRO's Stater

Infosys said it will acquire 75% of the shareholding in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V., that offers pure-play, end-to-end mortgage administration services in the Netherlands, Belgium and Germany. ABN AMRO will continue to hold the remaining 25% of the shareholding.

Infosys noted that the current management team of Stater will continue to steer the company.

ABN AMR said that transaction will result in a gain on disposal and have a positive, though modest, impact on ABN AMRO's CET1 capital ratio. The closing date of the transaction is expected in the second quarter.

Stater is ABN AMRO's administrative mortgage services provider, providing services for over 1.3 million mortgage loans to more than 30 mortgage providers in the Dutch market. Infosys is an IT and business services provider that operates worldwide and is already active as a provider of administrative mortgage services in other countries.

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