ING Groep NV, the biggest Dutch financial-services company, is open to selling the approximately 10 percent it still owns in insurer Sul America SA in a block trade, Chief Executive Officer Ralph Hamers said.
Brazil’s formal job creation in May was the lowest for the month since 1992, as economic growth slows in the world’s second-largest emerging market.
Brazil will grant exporters of manufactured goods tax breaks to partially offset this year’s currency appreciation, as part of a group of measures to boost growth, Finance Minister Guido Mantega said.
ING Groep NV, the biggest Dutch financial-services company, is seeking as much as 1.54 billion euros ($2.1 billion) in the first and what may be only public offering of its European insurance unit.
Swiss Re Ltd., the world’s second- largest reinsurer, agreed to buy an 11 percent stake in Sul America SA from ING Groep NV to expand in Brazil.