Published:
DBS acquires Hong Kong credit card company
S$88m deal sealed on Monday.
DBS announced on Monday that it has already acquired the remaining 50% of the issued shares of Hutchinson DBS Card Limited.
The acquisition was worth HKD546m (SGD88m). DBS purchased the shares from Whampoa Ltd.
Prior to the deal, DBS and Whampoa each held 50% of Hutchinson DBS Card Limited.
According to an announcement by the SGX, “The book value and net tangible asset value of the Target Company is HKD728million (SGD117million) as of December 2013.”
- See more at: https://sbr.com.sg/financial-services/more-news/dbs-acquires-hong-kong-credit-card-company#sthash.4P68p5IN.dpuf
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