NEWS & VIEWS

Global private equity and venture capital news and research

ING plans to float insurance unit NN

5 Jun 2014

KONICA MINOLTA DIGITAL CAMERADutch banking group ING is planning to float its insurance unit with private equity firm RRJ and Singapore’s sovereign wealth fund Temasek expected to participate in the IPO.

The unit, NN Group, is expected to be floated by the end of the year, said CEO Ralph Hamers, according to Reuters.

RRJ and Temasek, which are invested in NN, are due to participate in the IPO as anchor investors.

“This signals the launch of the final major transaction in ING’s five-year restructuring…with the IPO of NN Group we will have substantially completed the repositioning of ING to a pure bank,” said Hamers, according to the report.

Last year the unit posted a €905m profit on gross written premiums of €9.5bn.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015