UOB gets Bank of Asia on the cheap

ABN AMRO''s forced sale of Bank of Asia proves a steal for UOB at $550 million.
May 13, 2004

UOB has won its bid to take over Bank of Asia, Thailand's ninth-biggest bank by assets. The 80.77% stake, which it is buying from ABN AMRO, will cost the Singaporean bank Bt22.02 billion ($550 million) and significantly elevates its presence in the kingdom.

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