ING Groep NV, the biggest Dutch financial services company, agreed on Thursday to reduce its stake in Brazilian insurer SulAm�rica Seguros e Previdencia SA, raising funds to help repay a state bailout received after the global financial crisis.Under terms of the deal, ING will sell a 7.2 percent stake in SulAm�rica to Brazil's Larragoiti family, the Brazilian company's controlling shareholder, according to a securities filing. The transaction leaves ING with a 28.8 percent stake in SulAm�rica, Brazil's third-largest insurer, the filing added.Based on SulAm�rica's closing price on Wednesday, ING might have raised 346 million reais ($176 million) from the sale. The value of ING's remaining stake in SulAm�rica is worth about 1.4 billion reais, according to Thomson Reuters calculations.Shares slumped 3.1 percent on Thursday, their biggest intraday drop in at least six weeks, on concern ING could be tempted to dispose of its remaining stake in the local equity markets as no potential strategic bidders apparently look interested in SulAm�rica. ING has for years stated that it intends to exit SulAm�rica - which has weighed down the stock.
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 traded higher by 0.12% or $0.01/share to $8.04. In the past year, the shares have traded as low as $5.51 and as high as $10.47. On average, 2191480 shares of ING exchange hands on a given day and today's volume is recorded at 10357110.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.43% or $0.1299/share to $30.44. In the past year, the shares have traded as low as $26.20 and as high as $31.18. On average, 858073 shares of TRI exchange hands on a given day and today's volume is recorded at 511614.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.1% or $0.34/share to $31.33. In the past year, the shares have traded as low as $26.65 and as high as $31.57. On average, 927824 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 340304.
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