Dow Jones

AMSTERDAM -- ABN Amro Holding, the biggest Dutch banking company, said it has completed the purchase of the European activities of the securities house Hoare Govett from BankAmerica Corp.

ABM Amro signed a letter of intent in February to acquire the British-based brokerage operation from Security Pacific Corp., which has since merged with BankAmerica.

ABM Amro chairman Robertus Hazelhoff called the acquisition "a further significant step in our expansion into international capital markets," providing "a strong foothold in the U.K. securities market."

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