ING Life Korea sold to MBK Partners

ING announced that it has completed the divestment of ING Life Korea to MBK Partners, a Korean private equity firm, for a total purchase price of approximately EUR1.27 billion.

Under the terms of the agreement and as previously announced, ING (through ING Insurance), will hold as of the completion of the transaction with MBK an indirect stake of approximately 10 percent in ING Life Korea, equivalent to an amount of approximately EUR80 million.