ING Gets 3 Bids For S. Korean Insurance Division

Law360, New York (May 24, 2013, 5:36 PM EDT) -- ING Groep NV has received offers for its South Korean life insurance division from a Korean life insurer and two private equity firms after a $2.1 billion deal for the unit fell apart late last year, ING said Friday.

The bids for ING Life Insurance Korea came from Kyobo Life Insurance Co. and Seoul-based MBK Partners and Vogo Fund. The Dutch insurance giant had exclusively negotiated with Seoul-based KB Financial Group, but talks fell apart last fall.

The sell-off was part of ING's agreement with the...
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