Monday, June 17, 2024

Logo Central America Link

ING will sell Latin American insurance unit to Grupo Sura of Colombia for $3.9 Billion

Monday, July 25, 2011

\ ING Group agreed to sell most of its Latin American insurance operations to Grupo de Inversiones Suramericana, the parent company of Colombia’s largest bank, for about $3.9 billion.\ \ The sale, which includes ING’s pensions, life insurance and investment management operations in Chile, Colombia, Mexico, Uruguay and Peru, will result in a gain of about 1 billion euros, the Amsterdam-based company said.\ \ Grupo Sura, the parent company of Bancolombia seeks acquisitions in Central or South America.\ \ Original source: Bloomberg\ \ \ \