ING sells remaining stake in NN Group
(Thomson Reuters ONE) -
NN Group announces today that its shareholder ING Group intends to sell
approximately 45.7 million ordinary shares in NN Group. The shares will be
offered by way of an accelerated book building offering to institutional
investors. NN Group will not be issuing or selling shares as part of this
transaction, and will not receive any proceeds from the offering. As a result of
the transaction ING Group will fully exit its remaining 14.1% stake in NN Group.
NN Group will release its first quarter 2016 results on 26 May 2016 and is
currently in closed period.
The book is open with immediate effect and is expected to close by 17.30 CET on
15 April 2016, although ING Group reserves the right to close the book before
then at short notice. The transaction is expected to settle on 19 April 2016.
The transaction is in line with ING's previously announced intention to divest
its remaining stake in NN Group ultimately by the end of 2016, and its strategy
to divest all of its insurance and investment management businesses as part of
the EC restructuring agreement. In this context, ING Group sold shares of
NN Group through an initial public offering in July 2014 and follow-on offerings
in February 2015, May 2015, September 2015 and January 2016.
Press enquiries NN Group Investor enquiries NN Group
Daphne Andriesse Investor Relations
+31 (0) 6 83 641 626 +31 88 663 5464
Daphne.Andriesse(at)nn-group.com investor.relations(at)nn-group.com
NN Group profile
NN Group is an international insurance and asset management company, active in
more than 18 countries, with a strong presence in a number of European countries
and Japan. With around 11,500 employees the group offers retirement services,
insurance, investments and banking to more than 15 million customers. NN Group
includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is
listed on Euronext Amsterdam (NN).
Important legal information
All figures in this document are unaudited. Small differences are possible in
the tables due to rounding. Certain of the statements contained 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 NN Group'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 the EC Restructuring Plan, (5) changes in the availability of,
and costs associated with, sources of liquidity as well as conditions in the
credit markets generally, (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 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 and financial strength ratings, (18) NN
Group's ability to achieve projected operational synergies and (19) the other
risks and uncertainties detailed in the Risk Factors section contained in recent
public disclosures made by NN Group.
Any forward-looking statements made by or on behalf of NN Group speak only as of
the date they are made, and, NN Group 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.
Press release:
http://hugin.info/160538/R/2003755/739672.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: NN Group NV via GlobeNewswire
[HUG#2003755]
Unternehmensinformation / Kurzprofil:
Datum: 14.04.2016 - 17:45 Uhr
Sprache: Deutsch
News-ID 464144
Anzahl Zeichen: 5422
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"ING sells remaining stake in NN Group"
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