Privatisation of Hong Kong’s Wing Hang Bank could cost HK$40 billion. Media reports said more than three parties are interested in taking over the second largest family controlled bank in the city.
Wing Hang’s chief executive, Patrick Fung Yuk-ban, and Bank of New York announced in September that they had entered into negotiations to sell their 45% share in Wing Hang.
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The potential deal would be similar to the acquisition of Wing Lung Bank by China Merchants Bank back in 2007.
