The transaction announced today completes the divestment of ING’s stake in SulAm\u00e9rica.<\/p>\n
The trade was closed at BRL 15.31 per unit representing a 0.5% discount to the closing price of SulAm\u00e9rica shares on 26 June. The sale generated approximately EUR 170 million in cash proceeds. The transaction is not expected to have a material impact on ING’s financial results. As previously announced, ING intends to use the proceeds for the reduction of ING Group core debt.<\/p>\n
ING expects to settle the transaction announced today on Wednesday 2 July. <\/p>\n
SulAm\u00e9rica is the largest independent insurance group in Brazil, with operations in several insurance lines. Its business lines are supported by diversified distribution capabilities including a network of more than 30,000 independent insurance brokers and partnerships with more than 20 financial- and retail institutions, adding a further 16,000 points of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"
ING has sold its remaining 10% stake in SulAm\u00e9rica S.A. through a block trade on the BM&F BOVESPA stock exchange. This announcement is in line with ING’s stated objective to divest its insurance and investment management businesses and focus on banking. <\/p>\n","protected":false},"author":20,"featured_media":35285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1671,1651,1437,2094,1919],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/35287"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=35287"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/35287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/35285"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=35287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=35287"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=35287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}