Life insurance arm in Korea sold by ING

life insurance business sold

The financial services group has now sold the South Korean unit to MBK Partners Ltd. ING Groep NV has now announced that it has managed to sell its South Korean life insurance unit, after having made the second attempt with a span of twelve months to accomplish this goal. It managed to raise approximately $1,646,800 (1.38 trillion South Korean Wan). The amount for the purchase was agreed upon by the buyer, MBK Partners Ltd., which is an Asian buyout company that was created by executives formerly from the Carlyle Group.…

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