ING - ING Offloads 85% Stake In Cobase To Alpha Group In Strategic Fintech Deal | Benzinga
Global Bank, ING Groep (NYSE: ING) announced the sale of its 85% stake in fintech subsidiary, Cobase to U.K.-listed Alpha Group through the signing of a conditional agreement which is yet to be approved by the Dutch Central Bank. The remaining stake is set to be acquired through a performance-based earn-out between 2025 and 2028.
The deal reflects high synergy as 80% of Cobase’s existing client base is part of Alpha’s target market. Also, both Alpha and Cobase will be leveraging each other’s unique capabilities and experience to garner additional business from clients.
Find out more about the Fintech companies and the sector! Meet and engage with transformative Fintech business leaders and investors at Benzinga's ...