Stock Market & Financial Investment News

News Breaks March 13, 2013 07:22 EDT ING, BCS ING has growing list of suitors for South Korean life insurer, WSJ reports In South Korea, ING Groep (ING) has a growing list of potential buyers for its Korean life insurer, a far cry from its initial attempt to sell the business last year, reports the Wall Street Journal. The company had was forced to drop the deal in December, because the only bidder walked away even after ING lowered the price to $2.1B. Now, potential buyers expect it to cut the price further, and it is set to receive at least five bids when the formal sale process begins within the next few weeks, sources say. Reference Link News For ING;BCS From The Last 14 Days Check below for free stories on ING;BCS the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 20, 2013 07:50 EDT BCS Gulf wealth funds raise private equity investments, Reuters reports Sovereign wealth funds in the Gulf Arab region are increasing their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco said in a new study, reports Reuters. Large sovereign funds have been looking for alternative investments to give better returns than low-yielding staples such as U.S. Treasuries.Reference Link May 19, 2013 18:32 EDT ING ING U.S. could rise over 30% in a takeover, Barron's reports. Subscribe for More Information May 16, 2013 17:42 EDT ING ING Group agrees to sell part of its direct stake in SulAmerica to IFC ING announced that it has agreed to sell part of its direct stake in SulAmerica to International Finance Corporation, IFC. ING has agreed to sell approximately 26.5M units of SulAmerica, representing approximately 7.9% of SulAmerica's outstanding shares, for a total consideration of 400M Brazilian Reais, roughly USD 200M or EUR 155M at current exchange rates. These shares have been released from the obligations of the shareholders agreement between ING and the Larragoiti Family as announced on 28 February 2013. Upon the closing of both the sale to IFC and the transaction with the Larragoiti Family, in which ING agreed to reduce its 36.5% stake to just under 30%, ING's equity interest in SulAmerica will be reduced to approximately 21.5%. The market value of the remaining stake is approximately EUR 410M based on the closing share price of 15 May 2013, R$14.95, and current exchange rates. The transaction with IFC is expected to close within 30 days, while the transaction with the Larragoiti Family is expected to close in the third quarter of 2013 as it is subject to regulatory approvals. 12:32 EDT ING, BCS EU bank stress test delayed until 2014 by regulator The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link 08:33 EDT ING BofA/Merrill's gobal financial analysts hold an analyst/industry conference call Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. May 14, 2013 05:44 EDT BCS Banks work deals from both sides of the field, WSJ reports Subscribe for More Information May 13, 2013 18:06 EDT BCS Barclays gets shareholder lawsuit over Libor thrown out, Reuters says Subscribe for More Information 06:49 EDT BCS, ING ECB member says negative deposit rates would help economy, Reuters says Subscribe for More Information May 8, 2013 07:41 EDT ING ING readies European insurance arm for listing next year, Reuters reports ING Groep will speed up preparations for a stock market listing of its European insurance business in 2014 after completing the spin-off of its U.S. insurance and investment arm, reports Reuters.Reference Link 05:37 EDT ING ING Group reports Q1 net profit 47c vs. 39c last year Subscribe for More Information May 7, 2013 12:38 EDT BCS Citigroup sues Barclays over Lehman losses, Reuters says Subscribe for More Information 06:01 EDT BCS Antero Resources, controlled by Warburg Pincus, plans IPO, Reuters reports Denver-based Oil and gas company Antero Resources, controlled by Warburg Pincus LLC, is preparing for an IPO that could value it at as much as $10B, sources say, reports Reuters. Antero hired Barclays (BCS), JP Morgan Chase (JPM) and Citigroup (C) to lead the deal, sources added. Reference Link Sign up for a free trial to see the rest of the stories you've been missing.