ING Group NV is a Dutch financial institution, which works worldwide. The Group got solvency problems in the period of the financial crises and the Dutch government supplied their capital with €10 billion.
Since the end of 2009, banks are recovering. But the governments want changes in the policy of the financial institutions. So, ING Group has to split up its banking and insurance operations. ING has decided to sell the “ING Real Estate Investment Management”, because this division is less integrated in the company’s structure.
ING considered some possibilities like an initial public offering (IPO) or a sale to another firm. Several sources of information declare that BlackRock is interested to buy ING Real Estate. The last years, that company is investing a lot in its real estate. This transaction is in line with the current evolution: the number of real estate investment managers is reducing.
I think the Dutch government makes a little mistake.
Belgium already has sold Fortis to BNP Parisbas for a small price. When the governments support that foreign companies take over one of the largest institutions of a country, then the governments plays with their inhabitants. Because there’s a high risk that the foreign investor fire the employees. At my opinion, the governments should try to hold such a big companies like Fortis and ING in their own country.
http://www.investmentnews.com/article/20100415/FREE/100419927
Benny De Meyer, 2FV4
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I totally agree with you. That this is not a good solution. We have already lost a big part of our banks to other countries. We should try to hold on to some parts of the banks more tight so that we create and hold a good and great bank business.
In my opinion it is a bad decision to sell one of the largest financial institutions to a foreign buyer. The government has to take decisions to hold such big companies in their own country rather than selling them for a very low price.
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