ING Stands To Reap $3B From Capital One Stake Sale

Law360, New York (September 5, 2012, 3:53 PM EDT) -- ING Groep NV on Wednesday unloaded all 54 million of its shares in Virginia-based Capital One Financial Corp., a move that will likely reel in more than $3 billion for the Dutch financial services conglomerate as it seeks to pay off a 2008 bailout from the Dutch government.

ING is selling the shares — which it acquired earlier this year when Capital One snapped up ING's U.S.-based online banking division — through an underwritten public offering that will see the Dutch firm gain a total of...
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