Key Developments: ING Groep NV (ING.AS)

ING.AS on Amsterdam Stock Exchange

24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Ing Groep NV announces indicative offer price range and offer size for IPO of NN Group
Monday, 16 Jun 2014 12:36pm EDT 

Ing Groep NV:Announces indicative offer price range and offer size for IPO of NN Group.Offer price range set at 18.50 - 22.00 euros per NN Group share.ING to offer 70 million existing ordinary shares of NN Group in IPO (excluding over-allotment option of up to 15 pct of offered shares).NN Group shares expected to be listed and start trading on Euronext Amsterdam on July 2.  Full Article

ING Groep confirms intention to launch NN Group IPO on Euronext Amsterdam
Thursday, 5 Jun 2014 01:00am EDT 

ING Groep NV:Confirms intention to proceed with Initial Public Offering (IPO) and listing on Euronext Amsterdam of NN Group NV.IPO will comprise existing ordinary shares in NN Group, currently wholly owned by ING.  Full Article

Ing Groep NV completes 1.125 billion euro pre-IPO investment into NN Group NV
Friday, 16 May 2014 03:36am EDT 

Ing Groep NV (ING):CompleteS the issuance of 1.125 billion euro in subordinated notes that will, in line with the completion of the intended IPO of NN Group, be exchanged into NN Group shares.Says the transaction represents an important investment into NN Group NV ahead of the intended IPO of ING's European and Japanese insurance and investment management activities.Announces that ING is preparing NN Group NV for a base case IPO.Says preparations are on track for a transaction in 2014, depending on market circumstances, and any further announcements will be made as and when appropriate.  Full Article

ING Groep secures 1.275 billion euros investment in NN Group ahead of IPO
Wednesday, 30 Apr 2014 01:31am EDT 

ING Groep NV:Says it has secured investments into NN Group totaling 1.275 billion euros ahead of NN Group's intended Initial Public Offering (IPO).Says it is to issue 1.125 billion euros in subordinated notes to RRJ Capital, Temasek and SeaTown.Notes are mandatorily exchangeable into NN Group shares in three tranches through 2016.ING to also sell shares in NN Group to each investor at intended IPO totaling 150 million euros.ING is preparing NN Group, which comprises its European and Japanese insurance and investment management operations, for base case IPO in 2014.ING Group will receive 750 million euros from RRJ Capital, 425 million euros from Temasek and 100 million euros from SeaTown for allocation of NN Group shares from ING Group at IPO of NN Group and subordinated ING Group notes, mandatorily exchangeable into NN Group shares.  Full Article

ING Groep completes sale of Taiwanese asset management business
Friday, 18 Apr 2014 12:29am EDT 

ING Groep NV:Completes sale of ING Investment Management Taiwan, its Taiwanese asset management business, to Japan-based Nomura Asset Management in partnership with group of investors.  Full Article

ING wins final court ruling against EC over terms of its 10 bln euros bailout-Reuters
Wednesday, 2 Apr 2014 08:00pm EDT 

ING Groep NV:ING wins final court ruling against European Commission over repayment terms of its 10 billion euros ($13.77 billion) bailout, as Europe's highest court upheld earlier verdict - Reuters.Commission argued that cheaper repayment terms ING received after bailout at height of credit crunch in 2008 constituted further 2 billion euros of state aid.European Court of Justice, Europe's highest court, confirmed earlier verdict, ruling that this additional aid was part of bailout and did not qualify as competition distorting state aid.Europe's second-highest court, Luxembourg-based General Court, said in 2012 that European Commission, as state aid regulator, failed to show that extra aid granted to ING gave it advantage over rivals.  Full Article

ING Groep intends to resume dividend payments over FY 2015
Monday, 31 Mar 2014 01:00am EDT 

ING Groep NV:Intends to resume dividend payments over FY 2015, after having repaid Dutch State in full, ultimately by May 2015.Pay-out ratio at least 40 pct.  Full Article

ING US announces completion of sale of common stock by ING Group
Tuesday, 25 Mar 2014 08:00pm EDT 

ING US Inc:ING Groep NV (ING Group) completes sale of 37.7 million shares of ING US.ING Group's ownership stake in ING US has been reduced to about 43pct.  Full Article

ING Groep not to pay FY 2013 dividend
Friday, 21 Mar 2014 03:39am EDT 

ING Groep NV:Says it will not propose AGM to pay dividend over FY 2013.  Full Article

ING Groep updates on sale of stake in U.S. subsidiary
Wednesday, 19 Mar 2014 06:54pm EDT 

ING Groep NV:Announces pricing for sale of about 33.8 million shares of common stock of ING U.S., Inc., its U.S.-based retirement, investment and insurance subsidiary.Final price $35.23 per share for 26.5 million shares being sold in public offering.About 7.3 million shares to be sold to ING U.S. in concurrent direct sale.Total gross proceeds to ING Groep from both transactions amount to about $1.2 billion (850 million euros).Sale reduces company's stake in ING U.S. to about 45 pct, from about 57 pct at year-end 2013.  Full Article

BRIEF-ING Groep to further invest in digital banking; will cut 1700 jobs

* ING Group : ING to take next step in digital banking in the Netherlands

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