ING completes transaction with Larragoiti family to reduce stake in SulAmérica
ING announced today that it has completed a transaction to reduce its stake in
Brazilian insurance holding Sul América S.A., as previously announced on 28
February 2013. Under the terms of that transaction, ING agreed to sell a stake
in SulAmérica of approximately 7% to the Larragoiti family, swap its remaining
indirect stake for tradable units, and unwind the existing shareholder's
agreement. As previously announced, the transaction does not have a material
impact on ING Group results.
SulAmérica 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.
Press enquiries ING Group  Investor enquiries
Victorina de Boer  ING Group Investor Relations
+31 20 5766373 Â +31 20 57 66396
Victorina.de.Boer@ing.com  Investor.Relations@ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a broad
customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal base
for an independent future for our insurance and investment management
operations.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained herein are not historical facts, including,
without limitation, certain statements made of future expectations and other
forward-looking statements that are based on management's current views and
assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in such statements. Actual results, performance or events
may differ materially from those in such statements due to, without limitation:
(1) changes in general economic conditions, in particular economic conditions in
ING's core markets, (2) changes in performance of financial markets, including
developing markets, (3) consequences of a potential (partial) break-up of the
euro, (4) the implementation of ING's restructuring plan to separate banking and
insurance operations, (5) changes in the availability of, and costs associated
with, sources of liquidity such as interbank funding, as well as conditions in
the credit markets generally, including changes in borrower and counterparty
creditworthiness, (6) the frequency and severity of insured loss events, (7)
changes affecting mortality and morbidity levels and trends, (8) changes
affecting persistency levels, (9) changes affecting interest rate levels, (10)
changes affecting currency exchange rates, (11) changes in investor, customer
and policyholder behaviour, (12) changes in general competitive factors, (13)
changes in laws and regulations, (14) changes in the policies of governments
and/or regulatory authorities, (15) conclusions with regard to purchase
accounting assumptions and methodologies, (16) changes in ownership that could
affect the future availability to us of net operating loss, net capital and
built-in loss carry forwards, (17) changes in credit-ratings, (18) ING's ability
to achieve projected operational synergies and (19) the other risks and
uncertainties detailed in the Risk Factors section contained in the most recent
annual report of ING Groep N.V. Any forward-looking statements made by or on
behalf of ING speak only as of the date they are made, and, ING assumes no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information or for any other reason. This document does not
constitute an offer to sell, or a solicitation of an offer to buy, any
securities.
Pdf version of press release:
http://hugin.info/130668/R/1751648/590532.pdf
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