Delen Private Bank, an established name in private banking, signed a definitive agreement to acquire Groenstate Vermogensbeheer. Groenstate Vermogensbeheer is a well known name in the Twente region in the Netherlands with approximately EUR 225 million in assets under management. The acquisition is the third acquisition by Delen Private Bank in the Netherlands in seven years. The transaction is expected to be completed by the end of the year, subject to regulatory approvals in both the Netherlands and Belgium.