HONG KONG/SYDNEY - Australia's Macquarie Group and Japan's Nikko Asset Management are among the companies interested in buying ING's Asian asset-management business, sources said, in a deal that could be worth around US$500 million (S$624 million) to US$600 million.
The sale is part of ING's plans to divest some of its Asian operations to repay the Dutch government's 2008 bailout funds.
ING is selling life insurance and investment management in two separate deals, which could raise more than US$6.5 billion combined, sources previously told Reuters. It has asked suitors for the insurance business to submit first-round bids by the third week of next month.
Other companies likely to express interest in the investment- management sale include South Korea's Mirae Asset and Fidelity Worldwide Investment, the sources, who had direct knowledge of the matter, said.
The information booklet for the investment-management sale is expected to go out this week, they added.