Expatica news

ING to sell Belgian brokerage

29 June 2007

AMSTERDAM (AP) – Dutch bank ING Group NV said Friday it agreed to sell its Belgian broker and employee benefits insurance business for EUR 750 million to P&V Verzekeringen.

ING will probably make a net profit of about EUR 425 million on the sale, the company said in a statement. The disposal follows a strategic review of ING’s business.

The transaction remains subject to regulatory approval.

[Copyright AP 2007]

Subject: Dutch news, Belgian news