BDO to acquire Deutsche Bank's trust business in Philippines
MANILA (Reuters) - BDO Unibank Inc (BDO.PS), the Philippines' top lender, said on Monday it had signed a definitive agreement to acquire the trust business of Deutsche Bank AG, Manila Branch.
The deal includes Deutsche Bank's (DBKGn.DE) trust, fiduciary and investment management activities in the Philippines, BDO said in a filing to the stock exchange.
The transaction is subject to closing conditions and regulatory approvals, BDO said.
Financial and other details of the deal were not disclosed.
(Reporting by Erik dela Cruz; Editing by Paul Tait)
SYDNEY - Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.