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The Managing Board and the Supervisory Board of ABN AMRO today announce the sale of ABN AMRO North America Holding Company which principally consists of the retail and commercial banking activities of LaSalle Bank Corporation ("LaSalle") to Bank of America for USD 21 billion in cash. ABN AMRO's North American Asset Management businesses and certain businesses within ABN AMRO's North American Global Markets and Global Clients operations do not form part of the sale.
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The Managing Board and Supervisory Board of ABN AMRO Holding N.V. and the Board of Directors of Barclays PLC jointly announce that agreement has been reached on the combination of ABN AMRO and Barclays.
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ABN AMRO announced today that it plans to reduce its North American workforce by five percent (approximately 900 jobs) in next year. The staff reductions within the Business Unit North America will affect LaSalle Bank Corporation and its subsidiaries and ABN AMRO's global businesses operating in the US.
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