A unit of Bank of China, BOC Hong Kong Holdings, is to buy its parent's Vietnamese and Philippine businesses for about $238m as the bank looks to reorganise its southeast Southeast Asia interests and expand its presence in the region. The announcement followed BOC Hong Kong's purchase in February of the Indonesian and Cambodian businesses from its parent for $377m.
A unit of Bank of China, BOC Hong Kong Holdings, is to buy its parent's Vietnamese and Philippine businesses for about $238m as the bank looks to reorganise its southeast Asia interests and expand its presence in the region. The announcement followed BOC Hong Kong's purchase in February of the Indonesian and Cambodian businesses from its parent for $377m.