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ING completes sale of Malaysian investment management business

The sale is part of ING’s earlier announced process to divest ING’s insurance and investment management businesses

April 23, 2013 1:03 IST | India Infoline News Service
ING announced on 19th April that it has completed the sale of its 70%-stake in ING Funds Berhad, ING’s investment management business in Malaysia, to Kenanga Investors Berhad, a wholly owned subsidiary of K & N Kenanga Holdings Berhad. 

The sale, as announced on 21 December 2012, is part of ING’s earlier announced process to divest ING’s insurance and investment management businesses.

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.

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