January 29, 2018 / 7:13 AM / a month ago

BRIEF-ING Further Acquires Of Majority Stake In Payvision

Jan 29 (Reuters) - ING GROEP NV:

* ING FURTHER INVESTS IN PAYMENTS BUSINESS WITH ACQUISITION OF MAJORITY STAKE IN PAYVISION

* REACHES AN AGREEMENT TO ACQUIRE A 75% STAKE IN PAYVISION

* PAYVISION HAS TOTAL VALUE OF EUR 360 MILLION

* ‍AFTER COMPLETION OF TRANSACTION, PAYVISION‘S FOUNDING MANAGEMENT TEAM WILL HOLD A 25% MINORITY STAKE AND WILL CONTINUE TO LEAD COMPANY​

* ‍TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2018​

* ‍TRANSACTION IS NOT EXPECTED TO HAVE A MATERIAL IMPACT ON ING‘S CET 1 RATIO ​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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