ING Plans IPO For European Insurance Unit

Law360, New York (May 8, 2013, 6:24 PM EDT) -- After taking its American unit public last week, Dutch insurer ING Groep NV on Wednesday announced a similar plan for its European business, continuing efforts to repay a €10 billion ($13.2 billion) government bailout.

Last week, ING raised $1.27 billion by selling down its stake in its U.S. pension management and insurance business. The initial public offering, the second-largest of the year despite pricing below the expected range, sent some $660 million back to the Dutch holding company, which will use the proceeds to pay down...
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