Investor Update

ING Group has announced today the sale of its 51% investment in the joint venture previously known as ING Australia to joint venture partner, ANZ Bank. The sale relates specifically to the insurance and retail wealth management aspects of ING’s activities in Australia.

ING Real Estate’s operations in Australia are not part of this transaction and remain a fully owned subsidiary of ING Group.

ING Real Estate Investment Management (ING REIM) has a significant platform in Australia with more than $10 billion in assets under management and approximately 60,000 investors.

Global CEO, ING REIM, Mr George Jautze said, “Our Australian real estate operation is a valuable business and is an important part of ING’s global real estate investment management organisation.”

To view a copy of our ASX announcement which includes the ING Group's press release  please click on the PDF attachment in the 'Related documents' column on this page.