18 February 2019

Taiwan lender aims to seal rural ABC deal next year, paper says

Taiwan Cooperative Bank Ltd. has sent a team of senior executives to negotiate the purchase of a stake in ABC Xiamen Tongan Rural Bank Ltd., a unit of Agricultural Bank of China Ltd. (ABC) (01288.HK, 601288.CN), the Commercial Times reported Wednesday, citing unidentified sources. If things go smoothly, the deal could be sealed in the first half of next year, according to the sources. The Taiwan bank aims to buy 20 percent of the Xiamen lender as well as stakes in ABC’s five other rural banks, the report said.

– Contact HKEJ [email protected]


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