Tag #Disinvestment

What challenges and regulatory hurdles did ING face in selling its Russian subsidiary, and how do these compare to experiences of other Western companies exiting the Russian market?

ING's exit from Russia is part of a broader trend of Western companies divesting from the country following the Ukraine invasion and facing difficulties, including increased exit taxes and regulatory hurdles. The sale price is significantly below the subsidiary's book value, highlighting the challenges involved in exiting the Russian market. The transaction is subject to approvals from European regulators, the Dutch Ministry of Finance, and the Russian government.