Owners of Hong Kong lender Wing Hang Bank Ltd. had received preliminary bids for its sale. It has engaged Goldman Sachs Group Inc. to advise it on the deal. Wing Hang plans to sell the company for USD4.5 billion.
Wing Hang Bank Ltd
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The following bids, mergers, acquisitions and disposals were reported on Friday including Statoil, Cassa Depositi e Prestiti, ThyssenKrupp, Mercator, Avivasa Emeklilik, Hayat Sigorta, Banca Monte dei Paschi di Siena, Telus Corp, Atrium Innovations and John Hardy
Michael Smith, current Australia and New Zealand Bank CEO, in an interview with Bloomberg's Susan Li said Hong Kong is the stepping stone towards China.
According to sources who told the Wall Street Journal, family-run Wing Hang Bank Ltd may get takeover bids from Australia & New Zealand Banking Group Ltd and United Overseas Bank Ltd of Singapore.
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