Thai finmin says approves ICBC buy of ACL Bank

BANGKOK Feb 22 (Reuters) - Thai Finance Minister Korn Chatikavanij said on Monday he had signed approval for a bid by Industrial and Commercial Bank of China (ICBC), the world's largest bank by market value, for ACL Bank ACL.BK.

"I have already signed that," he told a banking forum.

The deal includes the purchase of a 30.6 percent stake from the Finance Ministry. It represents ICBC's (1398.HK) (601398.SS) first acquisition in Thailand and is one of a handful of overseas purchases by ICBC in recent years. ($1=33.14 Baht) (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Alan Raybould)