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ING Groep NV Completes Sale Of 49% Stake In Korean Insurance Venture, KB Life To Joint Venture Partner KB Financial Group Inc
ING Groep NV announced it has completed the sale of its 49% stake in Korean insurance venture KB Life Insurance Company Ltd. (KB Life) to joint venture partner KB Financial Group Inc. As announced on 19 April 2013, the divestment of the stake in KB Life does not have a material impact on ING Group results. ING received a total cash consideration of KRW166.5 billion (approximately EUR115 million) for its 49% stake in KB Life.
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