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ING Groep NV Reaches Agreement on Amended EC Restructuring Plan
ING Groep NV announced that it has reached an agreement with the European Commission on amendments to the 2009 Restructuring Plan. The amendments extend the time horizon and increase the flexibility for the completion of divestments and adjust other commitments in light of the market environment, economic climate and more stringent regulatory requirements. As part of the agreement, the Company has filed a schedule for repayment to the Dutch State of the remaining EUR 3 billion in core Tier 1 securities plus a 50% premium, in four equal tranches in the next three years. A first tranche of EUR 1,125 million will be paid on November 26, 2012.
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