ING sells stake in India's Vysya Life Insurance
AMSTERDAM (Reuters) - Dutch banking and insurance group ING (ING.AS) said on Wednesday it has agreed to sell its 26 percent stake in India's Vysya Life Insurance to its joint venture partner Exide Industries (EXID.NS).
ING said the divestment is part of its sale of all of its Asian insurance and investment management operations.
The sale of Vysya Life Insurance does not impact ING Vysya Bank (VYSA.NS), a listed Indian bank in which ING has a 44 percent stake, nor ING's fund management operations in India, ING said in a statement.
(Reporting by Gilbert Kreijger; Editing by Sara Webb)
- U.S. Mega Millions lottery up to $400 million, 2nd-biggest ever
- Pope Francis named Time's Person of the Year |
- Uruguay becomes first country to legalize marijuana trade
- Thousands of South Africans line up to see Mandela lie in state |
- China bitcoin arbitrage ends as traders work around capital controls