ING to sell Asian units to Pacific Century for €1.64bn
Financial services group ING has reached an agreement to sell its life insurance, general insurance, pension and financial planning units in Hong Kong and Macau, and its life insurance operation in Thailand to Pacific Century Group for €1.64bn in cash.
The agreement is part of the bank’s plans to sell all its Asian insurance and investment management activities. Last week, ING said it had agreement to sell its Malaysian insurance activities for approximately €1.3bn.
‘The process for the remaining businesses is on-going. Further announcements will be made if and when appropriate,’ the bank said in a statement.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation