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Bank to buy stake
By Zhang Fengming |
February 10, 2011, Thursday
|
Print Edition
Print Edition
INDUSTRIAL Bank plans to buy a 51-percent stake of Union Trust for 852 million yuan (US$129 million) from investors including New Hope Group, the Fujian Province-based lender said yesterday in a filing to the Shanghai Stock Exchange.
The trust company, set up in 2003, has a registered capital of 510 -million yuan.
The lender has gained the go-ahead from the China Banking Regulatory Commission for the deal.
The trust company, set up in 2003, has a registered capital of 510 -million yuan.
The lender has gained the go-ahead from the China Banking Regulatory Commission for the deal.
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