ING said late Tuesday that it plans to sell 54 million shares in Capital One. Based on Tuesday's close, the stake is worth about $3 billion. It will be executed through an underwritten public offering. The transaction is expected to be completed on Sept. 10.

ING has been forced to sell assets as a condition of the bailout it received from the Dutch government in 2008.

ING obtained the shares when Capital One purchased ING Direct USA in February for $9 billion.


The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.
Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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