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May 24, 2017

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Dutch banking giant ING announces plan to sell its stake in Capital One

THE HAGUE--Dutch banking giant ING announced Tuesday it planned to sell its stake in Capital One, which bought ING's U.S. online banking unit in a multibillion-dollar deal earlier this year.

"ING announced today that it intends to sell all of its 54 million shares in Capital One Financial Corporation," the Amsterdam-based ING said in a statement, but it did not give an amount.

"Financial details will be released after pricing of the transaction which is expected to take place prior to opening of the New York Stock Exchange" on Wednesday, ING said.

The sale would be done through an underwritten public offer, it added.

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