Dutch Supreme Court Clears Sale Of LaSalle Bank To Bank Of America

The Dutch Supreme Court says A-B-N Amro's sale of LaSalle Bank to Bank of America of Charlotte is legal.

The Dutch Supreme Court today overturned a lower court ruling blocking the 21 billion dollar sale.

The larger fight between Barclays and a consortium led by the Royal Bank of Scotland to buy A-B-N Amro will probably continue.

The court says A-B-N Amro directors were entitled to choose to sell Chicago-based LaSalle to Bank of America.

Bank of America spokesman Frans van der Grint calls the ruling a complete victory for the bank and A-B-N Amro. van der Grint says the ruling will allow the sale to be completed.

The ruling says A-B-N Amro directors were not required to get shareholder approval before the sale.