M&A Deal Summary

Capital One Acquires ING Direct USA

On June 16, 2011, Capital One acquired financial services company ING Direct USA from ING Groep for 9.0B USD

Acquisition Highlights
  • This is Capital One’s 9th transaction in the Financial Services sector.
  • This is Capital One’s 3rd largest (disclosed) transaction.
  • This is Capital One’s 8th transaction in the United States.
  • This is Capital One’s 1st transaction in Delaware.

M&A Deal Summary
Date 2011-06-16
Target ING Direct USA
Sector Financial Services
Buyer(s) Capital One
Sellers(s) ING Groep
Deal Type Divestiture
Deal Value 9.0B USD

Target

ING Direct USA

Wilmington, Delaware, United States
ING Direct USA is a direct to consumer bank formed in 2000.

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Buyer(S) 1

Buyer

Capital One

McLean, Virginia, United States
Category Company
Founded 1988
Sector Financial Services
Employees56,100
Revenue 36.8B USD (2023)
DESCRIPTION
Capital One's headquarters in McLean, Virginia.
Capital One's headquarters in McLean, Virginia.

Capital One Financial is a diversified financial services holding company with banking and non-banking subsidiaries. Capital One Financial Corporation and its subsidiaries offer a broad array of financial products and services to consumers, small businesses and commercial clients through branches, the internet and other distribution channels. Capital One was incorporated in 1988 and is based in McLean, Virginia.

DEAL STATS #
Overall 9 of 23
Sector (Financial Services) 9 of 14
Type (Divestiture) 2 of 4
State (Delaware) 1 of 1
Country (United States) 8 of 22
Year (2011) 1 of 1
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-04 Chevy Chase Bank

Bethesda, Maryland, United States

Chevy Chase Bank is the greater Washington region's largest locally-owned banking institution providing a complete array of financial products and services to consumers and businesses in Maryland, Virginia, and the District of Columbia.

Buy $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-02 HSBC US Credit Card Unit

United States

HSBC's US credit card unit included a balance of $30 billion in debt.

Buy $2.5B

Seller(S) 1

SELLER

ING Groep

Amsterdam, Netherlands
Category Company
Founded 1762
Sector Financial Services
Employees60,000
Revenue 22.4B USD (2023)
DESCRIPTION
ING branch in central Barcelona.
ING branch in central Barcelona.

ING Groep is a diversified financial services company offering banking, investment, life insurance, and retirement services products and services. ING has operations throughout Europe, North America, and Asia. ING Groep was founded in 1762 and is based in Amsterdam, the Netherlands.

DEAL STATS #
Overall 3 of 13
Sector (Financial Services) 2 of 5
Type (Divestiture) 3 of 12
State (Delaware) 1 of 1
Country (United States) 3 of 5
Year (2011) 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Cetera

El Segundo, California, United States

Cetera is a network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera was founded in 2010 and is based in El Segundo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 CBRE Clarion Securities

Radnor, Pennsylvania, United States

CBRE Clarion Securities (formerly ING Clarion Real Estate Securities) offers various listed real estate investment programs.

Sell $940M
Mergr

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