Announced
Financials
Sources
Tags
Banks
Acquisition
consumer banking
Domestic
Majority
Private
Pending
Friendly
Single Bidder
Malaysia
Indonesia
Thailand
Vietnam
Synopsis
United Overseas Bank, a Singaporean multinational banking organisation, agreed to acquire Southeast Asian consumer business of Citigroup, an American multinational investment bank and financial services corporation, for $3.7bn. "From the integration standpoint, acquiring from a single, reputable seller with a uniform franchise will reduce complexity. One bank, one platform, one model," Wee Ee Cheong, United Overseas Bank deputy Chairman and CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.