NEW YORK -- Morgan Guaranty Trust Co. said Friday that it is holding discussions with Amsterdam-Rotterdam Bank N.V. on the purchase by Morgan of the 50 percent interest in Bank Morgan Labouchere, Amsterdam held by AMRO.
Morgan, the fifth-largest U.S. bank, has held 50 percent interest in the Amsterdam bank from AMRO in 1976 and has been managing it since then.
'Bank Morgan Labouchere has increasingly become identified with Morgan's business in the Netherlands,' leading to discussions about the possibility of Morgan buying the 50 percent it does not own, the firm said.
The purchase would be subject to various approvals of regulatory authorities in both countries. Employees, unions, and other concerned parties in the Netherlands also have been informed of the discussions, Morgan said.
Bank Morgan Labouchere had assets of approximately $545 million at the end of 1982. J.P. Morgan & Co., holding company for Morgan Guaranty Trust had assets of $58.2 billion at the end of the third quarter.
