Dutch financial services group ING (ING.AS)(ING.N) said on Monday it has put its car leasing business up for sale, in a deal Dutch media reported may be worth 4 billion euros ($5.7 billion). ING is in the throes of a huge restructuring, forced on it as a condition of its 10-billion-euros state bailout in the 2008 financial crisis. It has sold several assets already to raise money to repay the state, but the car leasing unit had not been earmarked previously as a possible divestment. Just last week, ING agreed to sell its U.S. online bank to Capital One Financial Corp (COF.N) for $9 billion in cash and stock. It also plans to list its insurance operations in two separate initial public offerings.
ING Groep N.V. (ING) is a global financial institution offering banking, investments, life insurance and retirement services to meet the needs of the customers. Shares of ING remained unchanged at $11.72. In the past year, the shares have traded as low as $7.02 and as high as $13.41. On average, 2148150 shares of ING exchange hands on a given day and today's volume is recorded at 1700.
Capital One Financial Corporation is a diversified financial services holding company. Shares of COF remained unchanged at $48.84. In the past year, the shares have traded as low as $36.10 and as high as $56.26. On average, 3968330 shares of COF exchange hands on a given day and today's volume is recorded at 0.
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