Thursday, February 21, 2008

ING Groep may not sell ING Canada

ING Groep, the listed Amsterdam, Netherlands-based company that recently sold its Mexican property and casualty insurance unit, is unlikely to sell ING Canada, according to a report in the National Post.
Charles Brindamour, chief executive of ING Canada, was cited in the 21 February news report as saying that ING Groep will more likely than not opt for keeping its 70% interest in ING Canada, though the listed Toronto-based P&C insurance entity is "not core" to the parent company's business.
ING Canada's market cap is CAD 4.59bn (USD 4.53bn).


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