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ING To Seek Separate Listing For Insurance Arm

Associated Press

AMSTERDAM (AP) — ING Groep NV says it is moving ahead with a plan to hive off its remaining insurance operations into a separate listed company.

The Dutch bank and insurance group has no choice under an agreement with European regulators to compensate for taking state aid during the 2008 financial crisis.

ING did not set a date for the offering in a statement Thursday morning, but implied it would be finished before the end of 2014. It said it will sell a minority stake to large investors.

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Copyright: Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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