ING Groep N.V.
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Publicatie datum
29 sep 2016 - 07:01
Statutaire naam
ING Groep N.V.
Titel
ING reduces its stake in Kotak Mahindra Bank to 3.9% with the sale of 46.7 million shares for EUR 490 million
Bericht
ING today announced the sale of 46.7 million ordinary shares of Kotak Mahindra Bank (Kotak). The shares were sold at a price of INR 782.32 per share. Gross proceeds to ING from the offering amount to approximately EUR 490 million (at the current exchange rate). The sale reduces ING's stake in Kotak from currently 6.4% to 3.9%. ING's remaining stake in Kotak will be subject to a 90 day lock-up following settlement of the transaction which is expected to occur on 4 October 2016.
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