ING Card has been acquired by International Card Services B.V.
March 2009 — ING N.V. has sold ING Card to International Card Services B.V. (ICS). Financial details have not been disclosed.
ING N.V., a global financial services company providing banking, investments, life insurance and retirement services, decided to spin-off its Dutch open market credit card portfolio with 28,000 accounts of which 75% were active.
International Card Services (ICS) is a subsidiary of Fortis Bank Nederland N.V. The company issues, promotes, administrates, processes transactions, provides insurance services and credit for both Visa as well as MasterCards. ICS takes care of all Fortis credit cards, facilitates co-branded credit card programs and offers other bank independent credit cards.
ING N.V. has over 85 million private, corporate and institutional clients in more than 40 countries in Europe, the United States, Canada, Latin America, Asia and Australia.
Our role in the transaction
Oaklins' team in the Netherlands advised the seller in this transaction.
Talk to the deal team
Related deals
Nymann Kloak- & Miljøservice has been acquired by Serwent Group
Nymann Kloak- & Miljøservice has been acquired by Serwent Group. The acquisition expands Serwent’s footprint in Denmark while broadening its service offering and strengthening capacity across its existing platform. This transaction further supports Serwent’s ambition to become the leading Nordic operator in underground infrastructure maintenance.
Learn moreSigma Group has secured a refinancing package from Arbuthnot Latham
Sigma Group has secured a refinancing package from Arbuthnot Latham to support future growth. The new committed debt facilities were structured as a combination of cash flow and asset-based lending facilities secured against receivables. This refinancing also enabled Sigma Group to optimize its capital structure.
Learn moreWestBridge has made a majority investment in Beckett Investment Management
WestBridge Fund Managers Limited has agreed to make a majority investment in Beckett Investment Management Group, a leading financial planning business in the east of England. The transaction is the fifth investment from WestBridge III and is subject to regulatory approval by the Financial Conduct Authority (FCA).
Learn more