According to London’s Financial Times, Dutch financial services and insurance giant ING is reportedly ready to sell its U.K. based stockbrokerage unit, Williams de Broe, to Belgium’s Artesia Banking Corp. for an amount estimated at between £60 and £100 million ($90 and $150 million).
The move is seen as part of ING’s strategic reorganization of its investment banking operations. It has also announced plans to sell the U.S. unit of ING Barings in order to concentrate its efforts in Europe and the emerging markets of Central Europe, Asia and Latin America.
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