By Sabela Ojea 



  Dutch lender NIBC Bank N.V. said Monday that it will proceed with the amended recommended all-cash offer of 7 euros ($7.91) for each of its shares from Blackstone Group Inc., following the unconditional approval of the European Commission for the transaction. 


  "As a result all competition clearances required to close the offer have been obtained," NIBC said. 


  Public shareholders will receive EUR7.53 per share, as they will also obtain EUR0.53 per share for the prior final dividend, to be paid by NIBC. Shares closed Friday at EUR7.04. 


   The offer values NIBC Bank at around EUR1.03 billion excluding the 2019 final dividend, it said. This was amended down from the initial EUR1.44 billion proposal made public in February. 


  Blackstone has agreed to pay liquidated damages of EUR46 million if the offer is not made or not declared unconditional. Blackstone and NIBC Bank intend to terminate the listing of the shares on Euronext Amsterdam as soon as possible. 


  NIBC said its boards unanimously support and recommend the offer, as well as the lender's two largest shareholders, J.C. Flowers & Co and Reggeborgh Invest B.V., which hold 60.6% and 14.7% of the shares, respectively. 


  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix