Hana Bank acquires 15% stake in BIDV for $850m.

Hana Financial Group, a leading Bank in South Korea acquires a minority stake of 15% in Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) for $850m. BIDV, Vietnam’s second-largest listed bank with a market capitalization of $5.26bn, said it will issue 603.3m new shares for the stake sale. BIDV and KEB Hana Bank will carry out required procedures in accordance with laws of the two countries to finalize the deal soon.