NEW YORK (
Capital One Financial
submitted bids for
U.S. online bank last week in a sale that may raise about $9 billion,
reported, citing people with direct knowledge of the matter.
ING, the Dutch lender, could reach an agreement to sell ING Direct USA as soon as this month,
GE made an all-cash bid for ING Direct USA, while Capital One's offer includes some stock, the people said.
ING Direct USA is the largest U.S. online bank with $81.6 billion of deposits.
"The process to prepare a divestment of ING Direct USA is continuing," Raymond Vermeulen, a spokesman for Amsterdam-based ING, told
. He declined to comment on any potential bidders or the value.
ING agreed to sell ING Direct USA by 2013 to obtain European Commission approval for the €10 billion of aid received from the Dutch state in 2008 during the financial crisis.
Proceeds from the sale would be used to repay the state,
-- Written by Joseph Woelfel
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