ING Group (ING) reported the completion of the sale of its 70%-stake in ING Funds Berhad, ING's investment management business in Malaysia, to Kenanga Investors Berhad, an unit of K & N Kenanga Holdings Berhad.
The sale, as announced on December 21, 2012, is part of ING's earlier announced process to divest ING's insurance and investment management businesses. The company said this transaction does not have a material impact on its results and does not impact its other businesses in the region.
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