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ING Groep NV to Sell Its Interest in ING Vysya Life Insurance
ING Groep NV (ING Groep) announced that it has agreed to sell its 26% interest in ING Vysya Life Insurance Company Ltd. to its joint venture partner Exide Industries Ltd. The Company's exit from the Indian life insurance joint venture is part of the previously announced intended divestment of ING's Asian Insurance and Investment Management businesses. The announced transaction is not expected to have a material impact on ING Group results. Subject to regulatory approvals, the transaction is expected to close in the first half of 2013.
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