OCBC Bank in exclusive talks with sellers to acquire Hong Kong's Wing Hang Bank
OCBC Bank has confirmed that it is bidding to buy Hong Kong-based Wing Hang Bank.
It disclosed that it had entered into an exclusive agreement with the major shareholders of Wing Hang, the Fung family and BNY International Financing Corp to hammer out a deal.
The exclusivity agreement lasts until Jan 31.
During this period, the sellers cannot entertain interest from any other bidders.