Three banks have offered a bridge loan for the acquisition of Singapore's Overseas-Chinese Banking Corp Ltd. over Wing Hang Bank, reported Reuters citing sources familiar with the matter.
Breaking News
Singapore-based lender Oversea-Chinese Banking Corp (OCBC) will spend around CNY1.8 billion ($298 million) to increase its stake in China-based firm Bank of Ningbo Co from 15.34% to 20%.
Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.
Citing sources, Bloomberg reported that Singaporean lender Oversea-Chinese Banking Corp or OCBC has submitted a binding offer for Hong Kong-based family-run lender Wing Hang Bank Ltd.
The Malaysian consortium made up of Sime Darby Property, SP Setia Bhd and the Employees Provident Fund, have secured GBP790 million in syndicated funding to acquire the Battersea Power Station in the United Kingdom.
Bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies.
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