ING Sells $281 Million Stake in Thailand's TMBThanachart Bank

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By Adria CalatayudING Groep said it sold part of its stake in TMBThanachart Bank for 243 million euros ($281.4 million) by participating in the Thai lender's share buyback.The move reduces ING's stake in TTB to 19.5% from 23.1%, the Dutch bank said Friday. ING said it remains a significant shareholder in TTB and continues to value its partnership with the bank.ING said it doesn't expect the sale to have a material effect on its earnings, equity or capital ratios.Write to Adria Calatayud at [email protected]

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