Date
17 October 2017

Taiwan’s Chinatrust to acquire Tokyo Star Bank, Kyodo says

Tokyo Star Bank said Thursday that its shareholders in the United States have agreed to sell all of the shares they own, amounting to 98.16 percent of the bank’s total equity, to Taiwan’s Chinatrust Commercial Bank Co. Ltd., a unit of Chinatrust Financial Holding Co. Ltd., for 52 billion yen (US$528.66 million), Kyodo news agency reported the same day. The Taiwanese bank is expected to acquire the shares by the end of March next year after regulators in Japan and Taiwan approve the deal. It plans to offer loans for Japanese small and medium-sized firms that operate in China, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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