… And finally, the rumors were confirmed. It has been known that the Dutch Government has agreed to inject 10.000 millions of liquidity for the financial institution ING Group, in an urgency measurement to avoid the bloodletting that the group had enduring in the last days in Stock Exchange, as we were informing you about the financial ING solvency.
The strong exhibition in bonds of Lehman Brothers and the provisionamiento that had to do to cover some of his financial assets they have taken him to a situation of high risk, with strong losses in the last trimester that it have brought as a result of that the State has had to take control entering his capital, and always under certain conditions:
- ING binds to be sick 8 % annual of this capital.
- The group has the possibility of repurchasing the qualifications sold to the State but with a premium of 50 % on the value of quotation.
- The State will set 2 advisers, and they will bring in in the decision making about the wages the managers.
- The dividend of this year 2008 is eliminated
- He announces the sale of his branch of insurances in Thailand.
At the moment, the market has received with euphoria the news and the ING qualifications raise in the first hour of the morning more than 22 %.
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