ING Group(ING) announced that it has completed the sale of its 49% stake in Korean insurance venture KB Life Insurance Company Ltd. to joint venture partner KB Financial Group.
ING stated that it has received total cash consideration of KRW 166.5 billion or about EUR 115 million for 49% stake in KB Life.
As announced on 19 April 2013, the divestment of the stake in KB Life does not have a material impact on ING Group results.
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