ING completes sale of Malaysian investment management business
(Thomson Reuters ONE) -
ING announced today that it has completed the sale of its 70%-stake in ING Funds
Berhad, ING's investment management business in Malaysia, to Kenanga Investors
Berhad, a wholly owned subsidiary of K & N Kenanga Holdings Berhad.
The sale, as announced on 21 December 2012, is part of ING's earlier announced
process to divest ING's insurance and investment management businesses. This
transaction does not have a material impact on ING's results and does not impact
ING's other businesses in the region.
Press enquiries Investor enquiries
Frans Middendorff ING Group Investor Relations
+31 20 57 66386 +31 20 57 66396
Frans.Middendorff(at)ing.com Investor.Relations(at)ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a broad
customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal base
for an independent future for our insurance and investment management
operations.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained or referenced herein are not historical
facts, including, without limitation, certain statements made of future
expectations and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such statements due
to, without limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets, (2) changes in performance
of financial markets, including developing markets, (3) consequences of a
potential (partial) break-up of the euro, (4) the implementation of ING's
restructuring plan to separate banking and insurance operations, (5) changes in
the availability of, and costs associated with, sources of liquidity such as
interbank funding, as well as conditions in the credit markets generally,
including changes in borrower and counterparty creditworthiness, (6) the
frequency and severity of insured loss events, (7) changes affecting mortality
and morbidity levels and trends, (8) changes affecting persistency levels, (9)
changes affecting interest rate levels, (10) changes affecting currency exchange
rates, (11) changes in investor, customer and policyholder behaviour, (12)
changes in general competitive factors, (13) changes in laws and regulations,
(14) changes in the policies of governments and/or regulatory authorities, (15)
conclusions with regard to purchase accounting assumptions and methodologies,
(16) changes in ownership that could affect the future availability to us of net
operating loss, net capital and built-in loss carry forwards, (17) changes in
credit-ratings, (18) ING's ability to achieve projected operational synergies
and (19) the other risks and uncertainties detailed in the Risk Factors section
contained in the most recent annual report of ING Groep N.V. Any forward-looking
statements made by or on behalf of ING speak only as of the date they are made,
and, ING assumes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or for any other reason. This
document does not constitute an offer to sell, or a solicitation of an offer to
buy, any securities.
pdf version of press release:
http://hugin.info/130668/R/1694452/557287.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via Thomson Reuters ONE
[HUG#1694452]
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