SSSB raises €724m from two equity sales

Schroder Salomon Smith Barney (SSSB) is leading the €675m ($669m) sale in ING Group, marking the US bank's biggest accelerated offer of the year, and has completed a £31.2m (€49.2m) placement in New Look, the UK clothing retailer.

SSSB and ING Investment Banking are joint bookrunners of the sale of 36 million ING shares, a 1.8% stake in the Dutch banking group. ING shares fell 4.86% to €18.60 on news of the sale on Thursday.

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