trending Market Intelligence /marketintelligence/en/news-insights/trending/Dr8TDQj0ftsbi2eHUY2zjw2 content esgSubNav
In This List

Fubon Financial to buy remaining stake in Fubon Bank (China) for 2.13B yuan

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Fubon Financial to buy remaining stake in Fubon Bank (China) for 2.13B yuan

Fubon FinancialHolding Co. Ltd. is acquiring ShanghaiPudong Development Bank Co. Ltd.'s 20% stake in Fubon Bank (China) Co. Ltd. for 2.13 billion yuan (US$327.1million).

In a May 10 statement, the Taiwanese firm said it obtained confirmationfrom the Shanghai United Assets and Equity Exchange to be qualified as an acquirerof the stake in Fubon Bank (China). The deal will bring the company's stake in FubonBank (China) to 100%.

The deal is subject to approval of the China Banking RegulatoryCommission.

As of May 10, US$1 wasequivalent to 6.52 Chinese yuan.