ING plans to sell S.Korea's KB Financial stake in $675 mln deal-IFR

HONG KONG Thu Feb 14, 2013 3:28am EST

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HONG KONG Feb 14 (Reuters) - Dutch financial services group ING plans to sell its remaining stake in South Korea's KB Financial Group Inc in a deal valued at up to $675 million, IFR reported on Thursday.

ING is offering its 19.4 million shares in KB Financial in a range of 37,480-37,750 won each, equivalent to a discount of up to 1.4 percent to Thursday's close of 38,000 won, added IFR, a Thomson Reuters publication.

Bank of America Merrill Lynch was hired as sole bookrunner on the deal, IFR said.

($1 = 1086.9500 Korean won) (Reporting by Daniel Stanton and Fiona Lau; Writing by Elzio Barreto; Editing by Jeremy Laurence)

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