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ABN Amro Group NV agreed to sell its private-banking assets in Asia and the Middle East to Liechtenstein-based LGT Group, following its European rivals in shrinking overseas operations. The unit manages about $20 billion in Singapore, Hong Kong and Dubai, representing about 10 percent of its private-banking assets globally, the Dutch bank said in a statement Tuesday.ABN Amro said it expects a "substantial book gain" on the sale, estimated at 400 million euros ($431 million) by Kepler Cheuvreux.ABN Amro spokeswoman Brigitte Seegers declined to comment on the transaction price.
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