Key Developments: ING Groep NV (ING)

ING on New York Consolidated

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31 Jul 2014
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Latest Key Developments (Source: Significant Developments)

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

ING Groep to sell 12 pct stake in U.S. subsidiary
Tuesday, 18 Mar 2014 02:11pm EDT 

ING Groep NV:Plans to sell about 33.5 million shares of common stock of subsidiary ING U.S., Inc., representing stake of about 12 pct.Intends to use proceeds of planned transaction for reduction of ING Group core debt.  Full Article

ING Groep NV to sell Taiwanese asset management business
Friday, 10 Jan 2014 01:01am EST 

ING Groep NV:Says it has reached an agreement to sell ING Investment Management (IM) Taiwan, its Taiwanese asset management business, to Japan-based Nomura Asset Management in partnership with a group of investors.  Full Article

ING Groep NV completes sale of stake in Sul America SA to Swiss Re AG
Monday, 6 Jan 2014 07:00pm EST 

ING Groep NV:Says completes the sale to Swiss Re Group of 37.7 million units in Sul America SA.Says the transaction further reduced ING`s stake in the Brazilian insurance holding to approx. 10 per cent.Says receives total cash consideration of approx. EUR 180 million for the 37.7 million SulAmérica units, which represent a direct stake of approx. 11.3 per cent.  Full Article

ING Groep NV Completes divestment of ING Life Korea to MBK Partners
Tuesday, 24 Dec 2013 01:31am EST 

ING Groep NV:Completes the divestment of ING Life Korea to MBK Partners, a Korean private equity firm, for a total purchase price of about 1.27 billion euros.Says it will hold through ING Insurance, as of the completion of the transaction with MBK, an indirect stake of about 10 percent in ING Life Korea, equivalent to an amount of about 80 million euros.  Full Article

ING Groep NV completes transaction to reduce its stake in SulAmerica
Friday, 20 Dec 2013 04:01pm EST 

ING Groep NV:Completes the transaction to reduce its stake in Brazilian insurance holding Sul America S.A., as previously announced on Feb. 28.Says it has agreed, under the terms of that transaction, to sell a stake in SulAmerica of about 7 percent to the Larragoiti family, swap its remaining indirect stake for tradable units, and unwind the existing shareholder's agreement.  Full Article

ING Groep NV completes sale of stake in China Merchants Fund to China Merchants Bank Co Ltd and China Merchants Securities Co Ltd
Tuesday, 3 Dec 2013 11:43am EST 

ING Groep NV:Says it has completed the sale of its 33.3 percent stake in China Merchants Fund, an investment management joint venture, to its joint venture partners China Merchants Bank Co Ltd and China Merchants Securities Co Ltd.  Full Article

Fitch Affirms ING Bank at 'A+'; ING Group at 'A'; Outlooks Negative

(The following statement was released by the rating agency) PARIS/LONDON, July 24 (Fitch) Fitch Ratings has affirmed ING Bank N.V.'s (ING Bank) Long-term Issuer Default Rating (IDR) and Support Rating Floor (SRF) at 'A+' and ING Group's Long-term IDR and SRF at 'A'. The Outlooks on both Long-term IDRs are Negative. At the same time, the agency has affirmed ING Bank's Viability Rating (VR) at 'a'. A full list of rating actions is available at the end of this rating action commentary. The ra

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