Amsterdam-based financial services firm ING Groep was able to gather USD 974 million or EUR 706 million from the sale of its US business. ING Groep sold 33 million shares of ING US Inc at a price of USD 29.50 per share. According to the company, the sale left parent ING Groep with a 59% stake in ING US.

The sale was part of ING Groep's agreement with European regulators to satisfy the conditions for the bailout ING received for the 2008 financial crisis. It had agreed with authorities to sell at least 25% of its US arm this year. By the end of 2014, ING would need to divest more than half of its shares in ING US. The remaining shares would need to be sold by the end of 2016. ING was given until the end of 2018 to exit its global insurance operations.

ING US said the share sale was managed by Morgan Stanley, Goldman Sachs Group Inc, Citigroup Inc and Bank of America Corp.