RRJ, Temasek to invest $1.77 billion in ING's NN insurance unitReprints
RRJ Capital Ltd. and Singapore's Temasek Holdings Pte. Ltd. plan to invest €1.3 billion ($1.8 billion) in ING Groep N.V.'s NN insurance unit ahead of the unit's initial public offering this year, reports Bloomberg.
The investment adds to Temasek’s insurance “presence in central, eastern and the rest of Europe, as well as operations in Japan. ING was ordered by to sell its entire global insurance operations in order to receive approval for its 2008 bailout. The remaining European and Japanese business, named NN Group, can be valued at 6.5 billion according to Bloomberg.