ING Group has reached agreement with ABN AMRO to purchase 28,843,989
depository receipts for "A" preference shares of ING Group. The
transaction will be conducted in two tranches. The first tranche
consists of 18,843,989 shares, to be purchased at a price of EUR 3.65
per share to be completed on 15 October 2007. The second tranche of
10,000,000 shares will be purchased at a price of EUR 3.68 per share
on 24 December 2007. The second tranche is subject to the condition
that ING does not breach its 10 pct limit of its share capital on its
own books, which condition has to be fulfilled before 15 January
2008. Following the repurchase of each tranche, the preference shares
will be cancelled.
The repurchase of preference shares was authorised by the General
Meeting of Shareholders of ING on 24 April 2007 and the prices agreed
are within the limit set. This transaction follows similar purchases
from Aegon in 2006 and Fortis earlier this year.
The transaction will have no significant impact on ING Group's
earnings or key ratios and will not impact the ongoing share buyback
programme for ordinary ING shares.
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| Press enquiries: |
| Carolien van der Giessen, ING Group, +31 20 541 |
| 6522, carolien.van.der.Giessen@ing.com |
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ING is a global financial institution of Dutch origin offering
banking, insurance and asset
management to over 75 million private, corporate and institutional
clients in more than 50 countries.
With a diverse workforce of about 120,000 people, ING comprises a
broad spectrum of
prominent companies that increasingly serve their clients under the
ING brand.
