ING Looks To Raise $1.5B Selling Stake In US Unit

Law360, New York (April 17, 2013, 2:03 PM EDT) -- ING Groep NV will sell 25 percent of its U.S. insurance subsidiary for roughly $1.5 billion in an initial public offering as part of a deal with the European Commission over the insurance giant's 2008 bailout, ING announced Wednesday.

The Dutch company filed a preliminary prospectus with the U.S. Securities and Exchange Commission to sell stock in ING U.S. Inc. priced between $21 and $24 per share. At the high end of the pricing range, the IPO would be worth $1.54 billion.

The IPO includes a...
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