
PE firms target ING’s Asian insurance assets – report
ING is said to be in talks with several parties, including Apollo Global Management, J.C. Flowers & Co. and a team backed by The Blackstone Group, over the sale of different parts of its Asian life insurance operations. The initial plan was to divest the business in a single sale, but breaking it up may generate higher proceeds.
Final bids for the assets were submitted in mid-July and ING wants to sign sale agreements by the end of August. It is estimated that the full divestment, including ING's asset management unit and its...
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