ING U.S. files registration statement for sale of second tranche of shares by ING Group
(Thomson Reuters ONE) -
ING announced today that ING U.S., Inc., its U.S.-based retirement, investment
and insurance businesses subsidiary, has filed a registration statement with the
U.S. Securities and Exchange Commission (SEC) in connection with a possible sale
of a second tranche of ING U.S.'s common stock by ING Group.
The size and timing of a possible sale of ING U.S. shares by ING Group will be
based on market conditions and other factors. However, following this sale ING
Group will continue to own a majority of ING U.S.
ING U.S. shares started trading on the New York Stock Exchange on 2 May 2013,
under the ticker symbol "VOYA", upon the issuance and the sale of a first
tranche of ING U.S.'s common stock in an initial public offering (IPO) that
reduced ING Group's stake in ING U.S. to approximately 71%. The underwriters in
the IPO have waived the 180-day lock-up agreement agreed upon at the time of the
IPO to allow ING U.S. to file the registration statement and ING Group to
potentially execute a sale of ING U.S. shares. Today's filing is consistent with
ING Group's previously announced intention to divest its remaining stake in ING
U.S. over time, in line with its strategy to separate and divest its insurance
and investment management businesses.
The registration statement relating to these shares filed with the SEC has not
yet become effective. These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. The registration
statement relating to the offering may be obtained by visiting the SEC website
at www.sec.gov.
Press enquiries ING Group Investor enquiries ING Group
Victorina de Boer ING Group Investor Relations
+31 20 576 6373 +31 20 576 6396
Victorina.de.Boer(at)ing.com Investor.Relations(at)ing.com
Press enquiries ING U.S. Investor enquiries ING U.S.
Christopher Breslin Darin Arita
+1 212 309 8941 +1 212 309 8999
Christopher.Breslin(at)us.ing.com IR(at)us.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 in this document 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 of press release:
http://hugin.info/130668/R/1729230/577667.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#1729230]
Unternehmensinformation / Kurzprofil:
Datum: 13.09.2013 - 22:51 Uhr
Sprache: Deutsch
News-ID 296622
Anzahl Zeichen: 6413
contact information:
Town:
Amsterdam
Kategorie:
Business News
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