ING sells 30 mln Voya shares for total proceeds of USD 1.2 billion

 

ING Group announced today the pricing for the sale of 30 million shares of common stock of Voya Financial Inc., that was announced on 2 September 2014. ING Group has sold approximately 22.3 million Voya shares at a price of USD 38.85 per share in the public offering. In addition ING Group has sold to Voya approximately 7.7 million shares for an aggregate amount of USD 300 million.

The gross proceeds to ING Group from the public offering and the concurrent repurchase by Voya amount to approximately USD 1.2 billion (approximately EUR 0.9 billion at current exchange rates).The transaction is expected to settle on 8 September 2014.

As previously announced, the sale of the total of 30 million shares from the combined transactions reduces ING Group's stake in Voya to approximately 32%, from 43%. The transactions announced today are not expected to have a material impact on ING's 2014 third quarter results.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The registration statement and preliminary prospectus supplement relating to the offering may be obtained by visiting the SEC website at www.sec.gov.

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ING PROFILE
ING is a global financial institution of Dutch origin offering banking services through its operating company ING Bank and holding significant stakes in the listed insurers NN Group NV and Voya Financial, Inc. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's 53,000 employees offer retail and commercial banking services to customers in over 40 countries.
ING Group shares are listed (in the form of depositary receipts) on the exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).