ING (ING) has agreed to acquire an approximately 40% stake in Spanish wealth manager Singular Bank from Warburg Pincus, the company said Monday.
Singular Bank manages about 19 billion euros ($21.7 billion) in client assets and will continue to operate independently under CEO Javier Marin following the transaction, ING said.
The transaction is expected to close in Q1 2027, subject to regulatory approvals, the company said.
ING shares were 1.3% higher in Monday's premarket activity.
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