Covington Advises ING Insurance International in Sale of Mortgage Business in Mexico

Covington Advises ING Insurance International in Sale of Mortgage Business in Mexico

June 18, 2013

WASHINGTON, DC, June 18, 2013 — Covington & Burling is advising ING Insurance International on the sale of its mortgage business in Mexico, ING Hipotecaria, to the Mexican banking subsidiary of Banco Santander, Spain’s largest bank, for approximately $50 million.

The team is led by Gabriel Mesa and includes corporate associates Cecile Zwiebach, Dan Levine and Courtney Heizenrader. The team also includes Robert Heller and Dan Luchsinger (tax advice), James O’ Connell (antitrust matters), and Kathleen Gallagher-Duff and Maarika Kimbrell (intellectual property matters).

The transaction is expected to close in the second half of 2013, subject to regulatory approvals.