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  6. ING Groep Acquires Equitable of Iowa Cos.

M&A Deal Summary

ING Groep Acquires Equitable of Iowa Cos.

On July 8, 1997, ING Groep acquired financial services company Equitable of Iowa Cos. for 2.6B USD

Acquisition Highlights
  • This is ING Groep’s 1st transaction in the Financial Services sector.
  • This is ING Groep’s 3rd largest (disclosed) transaction.
  • This is ING Groep’s 1st transaction in the United States.
  • This is ING Groep’s 1st transaction in Iowa.

M&A Deal Summary
Date 1997-07-08
Target Equitable of Iowa Cos.
Sector Financial Services
Buyer(s) ING Groep
Deal Type Add-on Acquisition
Deal Value 2.6B USD

Target

Equitable of Iowa Cos.

Des Moines, Iowa, United States

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Buyer(S) 1

Buyer

ING Groep

Amsterdam, Netherlands
Category Company
Founded 1762
Sector Financial Services
Employees60,000
Revenue 22.5B USD (2024)
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, Netherlands.

DEAL STATS #
Overall 1 of 7
Sector: Financial Services M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 5
State: Iowa M&A 1 of 1
Country: United States M&A 1 of 6
Year: 1997 M&A 1 of 2
Size (of disclosed) 3 of 6
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-08-29 Furman Selz

New York, New York, United States

Furman Selz was founded in the U.S. in 1973 as a research-driven investment boutique. It was an employee-owned investment bank with offices throughout the United States and in London, Dublin and Tokyo.

Buy $600M
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