ING U.S. Drops the New York Marathon
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Thursday, July 25, 2013

ING U.S. Drops the New York Marathon

After Dutch multinational ING Groep sold a 25 percent stake in its U.S. arm this past May, ING U.S. [profile] announced it will stop sponsoring the New York City Marathon after this year, Bloomberg's Maud van Gaal writes. That marks the end of ING's 10 year sponsorship at the marathon.

The stake was sold to raise $1.27 billion as it divests assets in order to coordinate with European Union conditions it has been forced to contend with after receiving aid during the financial collapse.

Raymond Vermeulen,a spokesman for ING Groep, said ING U.S. will stop sponsoring marathons, including those in Miami and Hartford, van Gaal writes.

The move comes after ING launched a campaign debuting its new Voya brand.

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