DBS aquires Dao Heng Bank

According to the news, it is said that Singapore's DBS Bank had agreed to acquire a controlling stake in Dao Heng Bank Group (0223) from the Malaysian Guoco Group (0053).  It's also said that the announcement could be made today. A banking source close to the negotiations said discussions had been going on for some months and if the deal was completed, the price would be about three times Dao Heng's book value.

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