ING sells ING Direct for €6.3bn
Banking and insurance group ING has sold its US internet bank ING Direct to Capital One Financial Corporation for €6.3bn and a 9.9% interest in the US buyer.
The interest in Capital One, valued at $2.8bn, makes ING the largest shareholder.
The sale still has to be sanctioned by the financial authorities but the final agreement is expected in the fourth quarter of 2011.
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