ING Groep, the Dutch financial services company has recently announced that it is all set to buy the retirement plan administrator – CitiStreet, which is jointly owned by Citigroup and State Street.   

According to ING, it would pay 578 million euros ($903 million) for CitiStreet, the joint property of New York based major American financial services company, Citigroup Inc. and the Boston, Massachusetts based global financial service company State Street Corporation.     

Citigroup is seeking to dispose of noncore assets after taking more than $46 billion of credit losses and write-downs since the end of June and losing close to $15 billion in the last two quarters.