AMSTERDAM Dec 21 Dutch bank and insurance group
ING said on Friday it has agreed to sell its Malaysian
investment management business to Kenanga Investors Berhad, a
unit of K & N Kenanga Holdings Berhad.
No financial details were given, but ING said the sale of
its 70 percent stake would have no material impact on its
results. ING's joint venture partner Tab Inter-Asia Services Sdn
Berhad has also agreed to sell its 30 percent stake to Kenanga.
ING said its Malaysian fund management business managed
about 500 million euros of assets for third parties.
(Reporting by Sara Webb; Editing by Gilbert Kreijger)