Richard Li close to a deal on ING's insurance units

ING Group, under European Union orders to divest assets, is near an agreement to sell its Hong Kong and Thailand insurance businesses to Richard Li Tzar-kai, three people familiar with the matter said.

The Dutch bank is in final negotiations with Li - younger son of tycoon Li Ka-shing - and an announcement may come as early as today, said the people, asking not to be identified because the discussions are private.

via Business feed http://www.scmp.com/business/banking-finance/article/1064443/richard-li-close-deal-ings-insurance-units