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ING completes sale of remaining Voya shares

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ING Groep NV, the biggest Dutch bank, said it will sell its remaining 19 percent stake in Voya Financial Inc., completing its slow-motion exit from its former U.S. insurance unit, Bloomberg reported. Voya will repurchase $600 million of its shares in connection with the offering, according to a statement Tuesday from the New York-based insurer. The Dutch lender has received more than $6 billion for the 81 percent of Voya that it sold in five transactions starting with the initial public offering in 2013. The final sale of 45.6 million shares is valued at about $2 billion based on Voya’s closing price of $44.08 in New York trading Tuesday.

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