ING does better out of ANZ transaction
ING claims to have emerged from the sale of its Australian and New Zealand life insurance and wealth management businesses to ANZ better than was originally envisaged in September.
Reports out of Amsterdam quoted ING as saying that the final terms of the sale to ANZ had been "slightly better" than those initially estimated in September.
ING described the transaction, in which it sold its 51 per cent stake in ING Australia and ING New Zealand to joint venture partner ANZ, as being part of a "back to basics" strategy to simplify the organisation.
The European reports suggested the group had identified up to 15 businesses for divestment over coming years.
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.