ABC to sign strategic cooperation agreement with Dutch Cooperative Bank

The absence of equity cooperation between the two sides led to various speculation. ABC may use ABN Amro's leading experience in agricultural credit to promote its own "Caixin network" (Comprehensive media report) June 3, according to Xinhua news agency, the Agricultural Bank of China this month will sign a strategic cooperation agreement with Dutch Cooperation Bank, a world-renowned agriculture financial institution, to launch strategic cooperation.　　The report did not indicate the source. The Hong Kong Ming Pao newspaper reported in Thursday that AgBank had signed the agreement with ABN Amro June 2 and said the latter would make equity investments.　　The daily economic news, citing people familiar with the matter, said the Dutch cooperative bank would not be a strategic investor for AgBank, but it did not say whether it would take a stake in AgBank.　　"Ming Pao" quoted a source as saying that AgBank's top brass has discussed introducing the latter as an investor, but it has not been decided yet, as AgBank's board has argued that China's banks today have a sufficient international standing and no longer need to introduce foreign investors to boost their momentum before the IPO. Gongsheng, vice president of AgBank, had made it clear that the bank would no longer consider introducing other strategic investors until it could take a stake in the net asset price of the fund before the IPO. At the moment, AgBank is negotiating a cornerstone investor who can accept IPO pricing. The so-called cornerstone investors, usually refers to some large institutional investors, well-known enterprises or influential wealthy businessmen. Their investment commitment is to the company's fundamentals and prospects of affirmation, can give the market confidence.　　But at the same time also often need to commit to locking six months to a year. Dutch Cooperative Bank is a number of Dutch rural credit Cooperatives merged in 1973, mainly engaged in agriculture, agricultural machinery and food industry and other industries financial transactions. is the second largest bank in the Netherlands and has offices in Beijing, Shanghai and Hong Kong in China. and has cooperated with the rural financial institutions in both Zhejiang and Tianjin. 2006 Dutch cooperation bank successfully invested in Hangzhou Union Bank.　　AgBank may use ABN Amro's leading experience in the field of agricultural credit to boost its own agro-financial strength. (Caixin reporter Ma Yuan)