12.10.2012 - ING to sell insurance businesses in Malaysia to AIA
ING has reached an agreement with AIA Group on the sale of ING’s insurance operations in Malaysia, which include its life insurance business, its market-leading employee benefits business and its 60-percent stake in ING Public Takaful Ehsan Berhad. Under the terms agreed, ING is expected to receive a total consideration of approximately EUR 1.3 billion. The agreement, which is subject to regulatory approvals, is part of the previously announced intended divestment of ING’s Asian insurance and investment management businesses. The process for the remaining businesses is on-going. Further announcements will be made if and when appropriate...............................................Full Article: Source
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