Dutch firm could be set for an IPO prior to sell-off
Dutch financial services giant ING could potentially extend the sale of its insurance business beyond a 2013 deadline, Reuters reports.
The report said that as long as it kicks off the process with a stockmarket listing it could be approved by the EU, as cited in a footnote of an EU document last week
An ING spokesman said: "Whenever a divestment is being undertaken by an IPO process which has commenced and significant (30 percent or more) share placements have been made prior to the end of the divestment period, the Commission (in consultation with the Dutch State, ING and the Trustee) will actively consider allowing the entity more time to place remaining shares."
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