1 Min Read
SAO PAULO, June 27 (Reuters) - ING Groep NV, the largest Dutch financial services company, on Friday exited Brazilian insurance group SulAmerica SA following a share auction.
The Amsterdam-based company raised 521.7 million reais ($237 million) from the sale of 34.07 million units of SulAmerica, according to a securities filing issued by SulAmerica . The Dutch firm has agreed to leave SulAmerica's controlling bloc as part of an agreement with the Larragoiti family in December last year.
Shares of SulAmerica rose 1.4 percent on Friday to 15.59 reais each. ING sold the shares at a price around 15.3 reais each, according to Thomson Reuters calculation.
$1 = 2.20 Brazilian reais Reporting by Guillermo Parra-Bernal; Editing by Chris Reese