VOL. XLVI
No 37
15-September-2003
REGIONAL BANKING
ABC To Sell Hong Kong Subsidiary For $304Mn
Arab Banking Corporation (ABC), the parent company of the Arab Banking Group headquartered inBahrain, announced on 9 September that it is in the process of divesting its interest in its Hong Kong based subsidiary International Bank of Asia Limited (IBA) to Taiwans Fubon Financial Holding & Co for HK$2.37bn ($304mn). On 8 September ABC and Fubon signed an irrevocable share sale and purchase agreement...
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