By Karlee Weinmann ( April 15, 2013, 5:44 PM EDT) -- Dutch insurer ING Groep NV is targeting a May launch for its sale of a $1.2 billion stake in Thailand's TMB Bank, widening the window for bids with the hope of drawing in more interested parties, Reuters reported on Monday. ING is looking to unload a 31 percent stake in the bank to help pay down its multibillion-dollar debt load tied to a 2008 government bailout. Setting a May deadline for bids will give two top Malaysian banks — CIMB Group Holdings Bhd. and Malayan Banking Bhd. — some breathing room in joining the auction. The country, among the largest and most vibrant economies in booming southeast Asia, has an election set for May 5, after which the banks are expected to resume acquisition activity. The TMB Bank slice could also see interest from prospective buyers in Japan, China and South Korea....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
