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HSBC says to buy Taiwan's The Chinese Bank

HONG KONG
Thu Dec 13, 2007 11:17pm EST

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HONG KONG (Reuters) - Global bank HSBC Holdings (HSBA.L)(0005.HK) has won a government auction for Taiwan's The Chinese Bank Co Ltd, which had gross assets of approximately US$3.1 billion at September 30, it said in a statement on Friday.

HSBC did not disclose the purchase price but said it would inject US$300-$400 million of additional capital into The Chinese Bank to ensure its enlarged operations maintain appropriare financial ratios.

(Reporting by Tony Munroe, editing by Tom Miles)


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