Dutch financial services establishment organisation ING announced on Thursday that it had reduced a interest in a Indian private zone bank Kotak Mahindra from 6.4 per cent to 3.9 per cent. ING gained €490 million from a sale of 46.7 million shares.
ING performed a interest in Kotak by a partnership of ING Vysya Bank with Kotak Mahindra Bank, that became effective from Apr 1, 2015.
According to a matter from ING, a transaction will not have a element impact on a distinction and detriment account, shareholders’ equity or collateral ratios.
Article source: http://www.scmp.com/business/article/2023753/ing-trims-stake-indias-kotak-mahindra-bank