MBK Partner plans to acquire ING Life Korea

India Infoline News Service | Mumbai |

According to reports, under the agreement, Dutch insurer will retain about a 10% stake in the South Korean unit.

Private equity firm MBK Partners is planning to buy its South Korean insurance unit for total cash proceeds of 1.84 trn won (1.05 billion pounds), says media reports.

According to reports, under the agreement, Dutch insurer will retain about a 10% stake in the South Korean unit.

The sale of the South Korean unit will leave ING with its Japan insurance unit left to sell, bringing it closer to fulfilling its agreement with European regulators, says report.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.