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ING sells KB Financial for 500 mln euros
February 14, 2013 / 2:26 PM / 5 years ago

ING sells KB Financial for 500 mln euros

AMSTERDAM, Feb 14 (Reuters) - Dutch financial services group ING said it sold its 5 percent stake in South Korea’s KB Financial Group to institutional investors for about 500 million euros ($672 million), confirming an earlier report.

The sale was sold in a block trade after the close of the Korea Exchange in Seoul on Thursday, and will result in an after-tax profit of about 100 million euros, ING said in a statement. (Reporting by Sara Webb; Editing by Alison Birrane)

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