ING sold its Kotak Mahindra subsidiary

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ING branch Mauritius Investments raised approximately 883 million euros with the sale of its entire stake in the Indian bank Kotak Mahindra. That insiders reported on the issue to Bloomberg.

The ING subsidiary would have sold the nearly 59 million shares in the bank completely. ING, which already sold a bundle of shares in 2016, acquired its stake in Kotak through the merger of ING Vysya Bank with Kotak Mahindra Bank. Since ING acquired an interest in Kotak, a share has become worth 120 percent more.

Messages about an imminent sale were already on the rise. ING declined to comment to Bloomberg.

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