Vornado Realty Trust, one of the largest listed real estate companies in the US, has entered a bid to acquire ING Real Estate Investment Management (ING REIM), according to a report in The Wall Street Journal. ING REIM has EUR 71 bn of assets under management and is part of the bank-insurance group ING.

Vornado Realty Trust, one of the largest listed real estate companies in the US, has entered a bid to acquire ING Real Estate Investment Management (ING REIM), according to a report in The Wall Street Journal. ING REIM has EUR 71 bn of assets under management and is part of the bank-insurance group ING.

The newspaper cites unnamed sources familiar with the process saying that other interested parties include private equity firm Kohlberg Kravis Roberts and affiliates of global property advisers CB Richard Ellis and Jones Lang LaSalle. The deadline for final bids is believed to be 1 December.

ING Group declined to comment on the report.

Presenting the group's third quarter results on Wednesday, ING Group CEO Jan Hommen said that the company is working with an external adviser to evaluate possibilities - including a sale - of ING REIM's business. Commenting on the ongoing evaluation, he added: 'We hope to have a resolution before the end of the year.'

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