ING sells 26% stake in Vysya Life Insurance

Dutch banking and insurance group ING said recently it has agreed to sell its 26 percent stake in Vysya Life Insurance to its joint venture partner Exide Industries.

ING said the divestment is part of its sale of all of its Asian insurance and investment management operations.

The sale of Vysya Life Insurance does not impact ING Vysya Bank , a listed Indian bank in which ING has a 44 percent stake, nor ING’s fund management operations in India, ING said in a statement.

http://www.firstpost.com/business/ing-sells-26-stake-in-vysya-life-insurance-599685.html