Deals
ING Wins More Time From EU to Sell Its Insurance Business
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ING Groep NV, the biggest Dutch financial-services company, won more time from European Union regulators to sell its insurance operations and pledged to repay state support by 2015. The shares rose.
The European Commission said today that it extended the deadline for ING to divest the businesses, originally set for the end of 2013, because of current market conditions. ING said today that the new timeline means it must sell more than half of its insurance arm in Europe by the end of 2015 and dispose of the rest by the end of 2018.