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ING completes sale of interest in ING Vysya Life

India Infoline News Service | Mumbai |

ING completes sale of interest in ING Vysya Life

ING on 22nd March said that it has completed the sale of its 26% interest in ING Vysya Life Insurance Company Ltd to its joint venture partner Exide Industries Ltd.

The divestment, which does not have a material impact on ING Group’s results, is part of ING’s earlier announced process to divest ING’s insurance and investment management businesses. The process to divest the other insurance and investment management businesses in Asia, including ING’s fund management operations in India, is on-going. Any further announcements will be made if and when appropriate. The divestment does not impact ING Vysya Bank, a publicly listed Indian bank in which ING has a 44% stake.

 

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