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ING Completes Divestment Of China Merchants Fund Stake
Vanessa Doctor
5 December 2013
ING has finally completed the sale of its 33.3 per cent stake in China Merchants Fund, an investment management joint venture, to its JV partner cleared in a statement that this latest transaction will not have a material impact on ING Group results.
Earlier this week, ING announced it has completed the
sale of its investment management business in South
Korea to Macquarie, the
Australian bank.
The business had disposed of a number of businesses in recent years, such as selling its Singapore-based private bank to OCBC, which subsequently renamed it Bank of Singapore.