CTBC Financial is in talks to buy up to a 40% stake in Thai company LH Financial Group's banking unit; the deal would be a non-binding proposal worth $450m. Proceeds of the deal, which is subject to regulatory approval in both Taiwan and Thailand, will be used to expand LH Bank’s business in digital banking, wealth management and trade finances, CTBC said in a statement. The two companies are expected to announce their plans for an initial public offering (IPO) of their respective banks later this year.
CTBC Financial is in talks to buy up to a 40% stake in Thai company LH Financial Group's banking unit; the deal would be a non-binding proposal worth $450m. The two companies are expected to announce their plans for an initial public offering (IPO) of their respective banks later this year.