Announced
Financials
Tags
commercial banking
Friendly
Public
Single Bidder
Acquisition
Private Equity
Majority
Taiwan
Domestic
Banks
Pending
Synopsis
IBF Financial, a holding company, agreed to acquire EnTie Commercial, a firm that provides commercial banking products and services, from Longreach Group, an investment company, for $1.2bn. Longreach’s exit from EnTie, marks the end of a 14-year partnership, as per a company statement. IBF and EnTie will co-work to build a stronger new financial institution in Taiwan. On December 6, 2021, shareholder meetings approve the acquisition of EnTie Commercial bank by IBF Financial Holdings.
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