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MBK Partner plans to acquire ING Life Korea

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

August 26, 2013 6:18 IST | India Infoline News Service

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.

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