ING reviews position of ING Car Lease
ING reviews position of ING Car Lease
ING reviews position of ING Car Lease
Amsterdam, 20 June 2011
ING has noted the recent market speculation regarding the future of ING Car Lease.
ING continuously evaluates and optimises its business portfolio, in line with ING’s stated Back to Basics objectives of sharpening its focus and reducing complexity. Within this context, ING today confirmed that it is currently reviewing strategic alternatives for ING Car Lease, including discussions with third parties interested in a potential acquisition.
These deliberations may or may not lead to a transaction. Any further announcement on this matter will be made if and when appropriate.
ING Car Lease is a leading operational car leasing and fleet management business in Europe with approximately 240,000 vehicles across eight countries as of 31 March 2011. ING’s other leasing businesses, including ING Lease and ING Commercial Finance, are not affected by today’s announcement.
Press enquiries
Media Relations
+31 20 576 5000
media.relations@ing.com
Investor enquiries
Alexander Mollerus
+31 20 541 6482
Alexander.Mollerus@ing.com
ING PROFILE
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services. As of 31 March 2011, ING served more than 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 105,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in ING’s core markets, (2) changes in performance of financial markets, including developing markets, (3) the implementation of ING’s restructuring plan to separate banking and insurance operations, (4) changes in the availability of, and costs associated with, sources of liquidity such as interbank funding, as well as conditions in the credit markets generally, including changes in borrower and counterparty creditworthiness, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in general competitive factors, (11) changes in laws and regulations, (12) changes in the policies of governments and/or regulatory authorities, (13) conclusions with regard to purchase accounting assumptions and methodologies, (14) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, and (15) ING’s ability to achieve projected operational synergies. ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.