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Stock Market & Financial Investment News

News Breaks
December 24, 2013
05:04 EDTINGING Group compltes divestment of ING Life Korea to MBK Partners
ING announced that it has completed the divestment of ING Life Korea to MBK Partners for a total purchase price of approximately EUR 1.27B. In line with the announcement of August 26, the transaction has resulted in an after-tax loss for ING Group of approximately EUR 1B, of which EUR 950M was recorded in ING Group's Q3 results. Under the terms of the agreement and as previously announced, ING will hold as of the completion of the transaction with MBK an indirect stake of approximately 10% in ING Life Korea, equivalent to an amount of approximately EUR 80M.
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