ING completes divestment of NN Group
(Thomson Reuters ONE) -
NN Group announces today that ING Group has agreed to sell 45.7 millionshares of
NN Group at a price of EUR 30.15 per share. NN Group will not receive any
proceeds from the offering. The transaction completes ING's divestment of NN
Group. The shares were offered by way of an accelerated book building offering
to institutional investors. NN Group will release its first quarter 2016 results
on 26 May 2016 and is currently in closed period.
Lard Friese, CEO of NN Group: 'Today is a historic moment for NN Group. We thank
ING Group for their partnership and support in our journey to become a stand-
alone company, and we are grateful to our customers, employees, business
partners and shareholders for their ongoing commitment. In the years to come, we
will continue to focus on the evolving needs of our customers, in our aim to
build a company that truly matters to our stakeholders.'
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.
ING Group will continue to hold warrants that are exercisable for approximately
35 million ordinary shares of NN Group as specified in the warrant agreement
dated 10 June 2014.
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/2003831/739745.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#2003831]
Unternehmensinformation / Kurzprofil:
Datum: 14.04.2016 - 22:25 Uhr
Sprache: Deutsch
News-ID 464231
Anzahl Zeichen: 5751
contact information:
Town:
Amsterdam
Kategorie:
Business News
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