ING (ING) announced that ING Bank Slaski has reached an agreement with Goldman Sachs (GS) on the full acquisition of the Polish asset management company Goldman Sachs TFI. ING already owns 45% of the company and with acquiring the remaining 55% stake it brings its ownership to 100%. ING Bank Slaski holds the current 45% of Goldman Sachs TFI since 2019, via its subsidiary ING Investment. Goldman Sachs Asset Management became a 55% shareholder of Goldman Sachs TFI in Poland following its acquisition of NN Investment Partners in 2022. ING has signed a preliminary sale purchase agreement for the 55% stake in Goldman Sachs TFI for PLN 396M. ING expects that the transaction will reduce ING Bank Slaski’s consolidated total capital ratio and tier 1 ratio by approximately 34 bps. The transaction will have a minimal impact on ING Group’s CET1 ratio. Completion of the transaction is expected in the first half of 2026, subject to customary regulatory approvals.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ING:
- Putin approves Citi’s sale of Russia unit to Renaissance, Bloomberg reports
- ING Groep Advances €1.1 Billion Share Buyback Program
- ING Groep downgraded to Underperform from Market Perform at Keefe Bruyette
- ING Groep Advances €1.1 Billion Share Buyback Programme
- ING Groep price target raised to EUR 25.40 from EUR 24.40 at JPMorgan