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ING Groep updates on sale of stake in U.S. subsidiary
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.
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