Reuters logo
ING plans to sell S.Korea's KB Financial stake in $675 mln deal-IFR
February 14, 2013 / 8:31 AM / 5 years ago

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

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below