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ING completes sale of 49% stake in KB Life

ING received a total cash consideration of KRW 166.5 billion for its 49% stake in KB Life

June 24, 2013 3:17 IST | India Infoline News Service
ING announced that it has completed the sale of its 49% stake in Korean insurance venture KB Life Insurance Company Ltd (KB Life) to joint venture partner KB Financial Group, one of Korea’s leading financial institutions.

ING received a total cash consideration of KRW 166.5 billion (approximately EUR 115 million) for its 49% stake in KB Life, ING said in a press release on 20th June.

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