26 March 2019

OCBC to announce Wing Hang Bank acquisition, WSJ says

Singapore’s Oversea-Chinese Banking Corp. (OCBC) will soon announce the acquisition of Wing Hang Bank Ltd., in a deal that values the family-owned Hong Kong lender at close to US$5 billion, the Wall Street Journal reported Monday. The announcement could be made as soon as Tuesday, sources were cited as saying. The two banks began talking late last year, but the deal was extended twice as the Hong Kong bank and the Singaporean bank tried to come to an agreement over price, the report noted.

– Contact HKEJ at [email protected]


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