United Overseas Bank absorbs Evergrowing Bank

United Overseas Bank bought shares of the Evergrowing Bank for $ 202 million

In brief: Singapore started confidently absorption Chinese banking system. United Overseas Bank takes Evergrowing Bank.

The third-largest lender in Singapore, United Overseas Bank said that he had bought 456 million shares of Chinese Evergrowing Bank for 1.37 billion yuan ($ 202 million). It should be noted that the transaction occurred in a private placement of shares of Chinese banks.

Now the share of United Overseas Bank in Evergrowing Bank is 12.06%. Among the other banking news is worth noting that the international rating agency Fitch Ratings has assigned a planned program of Loan Participation Notes (LPN) Sberbank’s expected long-term rating on liabilities in foreign currency at BBB.

Ukrainian Globalist
2010-07-01 16:12, Economics.

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