Printer Friendly

INTERNATIONALE NEDERLANDEN GROUP INCREASES ITS INTEREST IN ITALIAN FINANCIAL SERVICES GROUP SVILUPPO

 INTERNATIONALE NEDERLANDEN GROUP INCREASES ITS INTEREST
 IN ITALIAN FINANCIAL SERVICES GROUP SVILUPPO
 AMSTERDAM, the Netherlands, April 16 /PRNewswire/ -- Internationale Nederlanden Group (ING Group) and the Italian financial services group, Finarte S.p.A., have today implemented the last phase of their agreement signed on Dec. 19, 1991, creating a solid base for their future cooperation in the financial services sector.
 Following today's acquisition by ING Group of the 21.71 percent interest in the Finarte subsidiary Sviluppo Finanziaria held by Lloyd Adriatico for approxiamtely NLG 25 million, ING Group and Finarte have agreed to a shareholding in Sviluppo of 60 percent and 40 percent, respectively. ING Group acquired an interest of 49 percent in Sviluppo on Dec. 19, 1991, with an option for an additional 2 percent.
 Sviluppo is an Italian financial services group, based in Milan, which offers a wide range of financial services to institutional investors and to private consumers through a network of 700 exclusive agents.
 Nationale-Nederlanden, the insurance subholding of ING Group, has established a branch in Italy and has submitted its life insurance licence application to the Italian Insurance Supervisory Authorities.
 It is the intention to appoint Francesco Micheli chairman of the board of managing directors of Sviluppo and to reconfirm Renato Preti as managing director at the next meeting of the board of directors.
 -0- 4/16/92
 /CONTACT: Philip J. de Koning Gans, general manager, Corporate Affairs of ING Group, 31-20-646 2201, or Francesco Micheli, chairman of Finarte S.p.A., 39-2-760-85-252/ CO: Internationale Nederlanden Group; Finarte S.p.A.; Sviluppo
 Finanziaria ST: IN: INS SU: TNM


BN-EA -- AT018 -- 9329 04/16/92 13:11 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 16, 1992
Words:273
Previous Article:SECURITY FINANCIAL HOLDING COMPANY ANNOUNCES INCREASE IN DIVIDEND
Next Article:EDDIE BAUER COMES HOME TO FLAGSHIP SEATTLE STORE; OUTDOOR OUTFITTER EXPANDS OFFERINGS OF STORE ONE OPERATION


Related Articles
FAVORABLE RESULTS FOR FIRST NINE MONTHS REPORTED BY INTERNATIONALE NEDERLANDEN GROUP
ING GROUP ACQUIRES INTEREST IN SVILUPPO FINANZIARIA, A LEADING ITALIAN FINANCIAL SERVICES GROUP
INTENDED APPOINTMENT TO EXECUTIVE BOARDS OF ING GROUP AND NMB POSTBANK GROUP
ING GROUP CHAIRMAN RESIGNS; A.G. JACOBS APPOINTED AS SUCCESSOR
NATIONALE-NEDERLANDEN CEASES DIRECT NON-LIFE INSURANCE ACTIVITIES IN UNITED KINGDOM
INTERNATIONALE NEDERLANDEN GROUP REACHES AGREEMENT WITH FINARTE TO ACQUIRE 100 PERCENT OF SVILUPPO FINANZIARIA
NATIONALE-NEDERLANDEN NORTH AMERICA REACHES AGREEMENT TO SELL WISCONSIN NATIONAL LIFE INSURANCE TO PROTECTIVE LIFE
NATIONALE-NEDERLANDEN NORTH AMERICA CORPORATION CHANGES NAME
ING NORTH AMERICA INSURANCE ANNOUNCES RETIREMENT OF CEO
INTERNATIONALE NEDERLANDEN US INSURANCE HOLDINGS, INC. ANNOUNCES COMPLETION OF SALE OF WISCONSIN NATIONAL LIFE INSURANCE COMPANY

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters