ING/Voya announce pricing of offering and direct share repurchase

|About: ING Groep N.V. (ING)|By:, SA News Editor

ING agrees to the public sale of 22.278M shares of VOYA at $38.85 per share. Alongside this offering, Voya has agreed to buy back from ING another 7.722M shares for a total price of $300M (also $38.85 each).

In total, ING is unloading 30M shares of Voya, cutting its ownership stake to about 32%.

Following Voya's direct share repurchase, the company has about $210M remaining under its buyback authorization.

Previously: ING to sell more of VOYA stake

Voya +0.1% premarket to $39.39. ING +1.8%