Sept 27 Singapore's United Overseas Bank Ltd
and Australia & New Zealand Banking Group Ltd
have shown interest in buying Hong Kong's Wing Hang Bank Ltd
, the Wall Street Journal said, citing people familiar
with the matter.
Wing Hang has become the second family-run Hong Kong bank to
get a takeover offer in as many months. In August, Chong Hing
Bank Ltd received offers from multiple parties,
Reuters previously reported.
Wing Hang said last week it received preliminary offers from
independent third parties to purchase shares in the bank, which
has a market value of $3.3 billion.
Hong Kong's Fung family, along with BNY International
Financing Corp, control about 45 percent of the bank.
Nomura Holdings Inc is handling the sale process,
the Journal reported. ()
Officials from Wing Hang and Nomura weren't available for
comment while the two banks declined to comment.