ING raises $671 million from sale of KB Financial stake

The deal is done at a tight 1.4% discount and comes after the Dutch group fails to sell its insurance businesses in Korea.

ING Group last night sold its 5% stake in Korea’s KB Financial Group through a block trade, raising W727.11 billion ($671 million). KB Financial is the holding company for Kookmin Bank, the largest bank in Korea by asset value.

¬ Haymarket Media Limited. All rights reserved.

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