Singapore's UOB says it buys a stake in Chinese bank

AFP
26 Jun 2008

SINGAPORE (AFP) — Singapore's United Overseas Bank (UOB) said Thursday it has acquired a 15.38 percent stake in China's Evergrowing Bank Co Ltd.

The stake, worth 780 million yuan (113.66 million US dollars), will be funded in cash from internal resources, the Singapore bank said.

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