DLA PIPER AND DEACONS ADVISE ON BANK DEAL
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clpstaff &clp articlesChina Merchants Bank has acquired Wing Lung Bank, which is valued at approximately US$4 billion, or 3.1 times book value. Wu Jieh Yee Company is the single-largest…
China Merchants Bank has acquired Wing Lung Bank, which is valued at approximately US$4 billion, or 3.1 times book value.
Wu Jieh Yee Company is the single-largest shareholder, controlling 28.22% of Wing Lung Bank. Wu Yee Sun Company is the other seller, controlling approximately 24.9% of the bank. The deal, subject to approvals by the Hong Kong Monetary Authority, the China Banking Regulatory Commission and other PRC regulatory bodies, will trigger a mandatory takeover offer upon completion.
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