ING Groep N.V.
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Publicatie datum
26 aug 2013 - 08:15
Statutaire naam
ING Groep N.V.
Titel
ING to sell ING Life Korea to MBK Partners
Bericht
•Sale is next major step in divestment of Asian insurance/investment management units
•ING to receive total cash proceeds of approx. KRW 1.84 trillion (EUR 1.24 billion)
•ING to hold an indirect stake of around 10% in ING Life Korea for approx. EUR 80 million
•Transaction result expected to be approx. EUR -950 million
ING announced today that it has reached an agreement to sell ING Life Korea, its wholly owned life insurance business in South Korea, to MBK Partners for a total purchase price of approximately KRW 1.84 trillion (EUR 1.24 billion at current exchange rates). Under the terms of the agreement, ING will hold an indirect stake of approximately 10% in ING Life Korea for an amount of KRW 120 billion (EUR 80 million at current exchange rates). ING has also reached a licensing agreement that will allow ING Life Korea to continue to operate under the ING brand for a maximum period of five years. In addition, over the course of one year, ING will continue to provide technical support and advice to ING Life Korea.
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Datum laatste update: 01 september 2024