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News Breaks | | | | September 5, 2012 | | 06:46 EDT |  | ING, COF | ING Group to sell all 54M shares in Capital One
ING (ING) announced last night that it intends to sell all of its 54M shares in Capital One Financial (COF). ING obtained the shares as part of the consideration for the sale of ING Direct USA to Capital One in February 2012. The sale will be executed through an underwritten public offering. | |
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News For ING;COF From The Last 14 Days Check below for free stories on ING;COF the last two weeks. |
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| May 24, 2013 | | 08:34 EDT |  | ING | Kyobo Life bids on ING's South Korean insurance business, Reuters reports
 Subscribe for More Information | | | 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 | 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 15, 2013 | | 17:03 EDT | | COF | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). | | | 06:08 EDT | | COF | Capital One reports April U.S. charge-off rate 4.61% vs. 4.69% last month
Subscribe for More Information | | | May 13, 2013 | | 06:49 EDT | | ING | ECB member says negative deposit rates would help economy, Reuters says
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