Validea Guru Analysis Report for ING. Analysis using Validea's interpretation of the published quantitative strategies of well-known Wall Street experts including Peter Lynch, Warren Buffett, Ben Graham and Ken Fisher, among others.
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ING Groep NV To Sell Mexican Mortgage Business To Santander
ING Groep NV announced that it has reached an agreement to sell ING Hipotecaria, its mortgage business in Mexico, to Banco Santander (México) S.A. The transaction is part of ING’s earlier announced process to divest its insurance and investment management businesses. ING Hipotecaria is a domestic Mexican mortgage business serving approximately 28,000 customers through its 20 branches, which remained with ING following the divestment of ING’s Latin American pensions, life insurance and investment management operations in 2011. The transaction is not expected to have a material impact on ING Group results. Subject to regulatory approvals, it is expected to close in the second half of 2013.
Latest Developments for ING Groep NV
- ING Groep NV completes sale of stake in China Merchants Fund to China Merchants Bank Co Ltd and China Merchants Securities Co Ltd
- ING Groep NV completes sale of investment management business in South Korea to Macquarie
- ING Groep NV completes sale of Mexican mortgage business
- ING Groep NV Agrees To Sell 11.3% Direct Stake In Sul America SA to Swiss Re AG
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