ANZ, Singapore's UOB 'eye Hong Kong's Wing Hang Bank'
HONG KONG (REUTERS) - Singapore's United Overseas Bank (UOB) and Australia & New Zealand Banking Group have shown interest in buying Hong Kong's Wing Hang Bank, the Wall Street Journal said, citing people familiar with the matter.
Wing Hang has become the second family-run Hong Kong bank to get a takeover offer in as many months. In August, Chong Hing Bank received offers from multiple parties, Reuters previously reported.
Wing Hang said last week it received preliminary offers from independent third parties to purchase shares in the bank, which has a market value of US$3.3 billion (S$4.1 billion).
Hong Kong's Fung family, along with BNY International Financing, control about 45 per cent of the bank.