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Thursday, February 28, 2013

ING cuts stake in Brazil's SulAmérica in effort to shed assets, (NYSE: ING), (NYSE: TRI), (TSE: TRI.TO)

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 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.Neither SulAm�rica nor ING gave details on the value of the transaction. Management at SulAm�rica will discuss the deal with investors in a conference call later in the day.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.

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 fell by 0.5% or $-0.04/share to $7.99. 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 36556.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.03% or $-0.01/share to $30.30. 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 5420.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.52% or $0.16/share to $31.15. 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 10464.



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