ING Group announced today that has completed the sale of its business unit ING Trust to management and Foreman Capital, an independent investment company based in the Netherlands. Financial details of the transaction were not disclosed.
As announced on 4 January 2007, the divestment is part of ING's strategy to focus on its core banking, insurance and asset management businesses. As of the 2 July 2007, ING Trust will operate under a new brand, Orangefield Trust.
The transaction will have no material impact on the results of ING Group or the Tier-1 ration of ING Bank NV.
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Press enquiries: ING Group
Nanne Bos, +31 (0) 20 541 6516, nanne.bos@ing.com
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ING is a global financial institution of Dutch origin offering banking, insurance and asset
management to over 60 million private, corporate and institutional clients in over 50 countries.
With a diverse workforce of about 120,000 people, ING comprises a broad spectrum of
prominent companies that increasingly serve their clients under the ING brand.
