- ING Groep (ING) has raised $974M after selling 33M in its U.S. insurance unit at $29.50 each.
- The sale lowers ING's holding in ING U.S. (VOYA) to 59% from 71%.
- ING is selling down its holdings in its U.S. subsidiary, which will be renamed Voya Financial, as part of the terms of a bailout it received during the financial crisis. ING has until the end of 2016 to sell the rest of its shares.
ING sells $974M worth of shares in U.S. unit
Oct 24 2013, 04:39 ET