Vogo-backed Tongyang Life chosen as preferred bidder ING Korea unit – report
A consortium led by Tongyang Life Insurance, which is majority-owned by Vogo Investment, has reportedly been chosen as the preferred bidder for ING Groep’s South Korean life insurance unit. The consortium is said to have offered around KRW2 trillion ($1.7 billion).
A proposal to grant Tongyang exclusive rights to negotiate for the asset was on the agenda for ING's board meeting yesterday, according to The Wall Street Journal. ING and Tongyang are South Korea's fifth...
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