ING announced today (10 June 2015) that it will exchange the second tranche of EUR 337.5 million of mandatory exchangeable subordinated notes into NN Group ordinary shares. The exchange is part of the anchor investment in NN Group by three Asian institutional investors - RRJ Capital, Temasek and SeaTown - as announced on 30 April 2014.
This transaction is
expected to reduce ING’s remaining stake in NN Group from 42.4% to 38.2%.
(download the full press release)