The Dutch financial services group ING (record net profits of EUR 4.92 billion, up 84% in 1999) will be indirectly buying 28% of Mexico's leading insurer SCA -SEGUROS COMERCIAL AMERICA- for USD 555 million. It has bought 39.7% of a new subsidiary of SAVIA, which owns 71.6% of SCA, making the Dutch group the leading foreign insurance firm in Mexico. A special clause also enables ING to raise its stake in this subsidiary to 49% within a year of conclusion of the transaction and even to acquire...