Stikeman Advises ING In $2B Summit Industrial Sale

Law360, New York (August 27, 2010, 1:21 PM EDT) -- Dutch finance giant ING Groep NV said Friday that it had agreed to sell its stake in ING Summit Industrial Fund LP to two private equity investors in a CA$2 billion ($1.9 billion) deal as it pulls back on real estate investment.

KingSett Capital and Alberta Investment Management Corp. will acquire 100 percent of Summit, a portfolio of light industrial properties in Canada, including ING's 50 percent direct stake, the company said.

ING also owns an indirect stake in Summit: a 7.8 percent unit holding of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.