23 June – LAWFUEL – The Law News Network – Linklaters has advised ING Group, the global financial institution of Dutch origin, in relation to the sale of the wealth business of ING Securities Bank (France), consisting of ING Ferri and ING Private Banking, to Barclays Bank PLC. ING Group went public on the agreement for this transaction on 2 June 2005, following the announcement made on 20 January 2005 on its negotiations with Barclays Bank PLC.
The transaction includes EUR 2.7 billion assets under management and 30,000 clients. The acquisition project is to be finalised early July 2005.
The Linklaters team was led by corporate partner Alain Garnier in Paris, assisted by Laurence Masseran, Pierre Gougé and Cyril Boussion. Other members of the team included: Jean-Jacques Essombè and Sidonie Freoa (regulatory); Valerian Conrad-Bruat and Marie Poulhies (real estate); Jérôme Cordier (employment).
Other advisers included Lovells (lawyers to Barclays Bank PLC).