ING's IPO may become the largest in Europe this year, raising EUR 2 bn

30 May 2014 —
The largest Dutch financial-services company is seeking to value its European insurance unit NN Group NV at as much as EUR 8 billion in a transaction that may raise as much as EUR 2 bn, according to three people with knowledge of the matter. The IPO may be announced as early as next week, said the people, who asked not to be named as the details are not public, Bloomberg reported.

If the IPO raises EUR 2 billion, it will be the largest in Europe this year, beating Luxembourg-based cable provider Altice SA's sale that raised $2 billion, according to data compiled by Bloomberg.

ING was ordered to sell Nationale Nederlanden by the European Commission in return for receiving a EUR 10 bn rescue pacakge from the state at the height of the financial crisis.

The IPO will not be a walk in the park for ING, as IPO activity is on the rise.

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ING's IPO may become the largest in Europe this year, raising EUR 2 bn
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