Invesco in running to buy ING's Asian arm - reports

Invesco is one of the front runners to buy ING's £500m Asian asset management division, according to reports.

ING has drawn up a shortlist of potential bidders, which includes Invesco and Japanese bank Sumitomo Mitsui Financial Group, according to Bloomberg. Australia's Macquarie Group and Japan's Nikko Asset Management have also been approached to buy the firm's assets, Reuters reports. The largest Dutch financial-services company is under order from the European Union to sell its Asian asset management arm before the end of 2013, to repay the state aid it received in 2008. ING is selling its life insurance and investment management divisions in two separate deals, which could potentially...