Singapore’s United Overseas Bank (UOB) wants to sell its 13 per cent stake in HengFeng, which it bought in 2008, according to a report by Bloomberg earlier this year. UOB, the second largest shareholder of HengFeng, said it planned to deploy capital by increasing the number of its own branches in mainland China.
Unit of China’s sovereign wealth fund takes over Xiao Jianhua-linked HengFeng Bank in third case of nationalisation since May
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