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Article: GE Acquires Stake in Keppel.
- Article from:
- National Mortgage News
- Article date:
- October 17, 2005
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STAMFORD, CT -- GE Consumer Finance here has agreed to acquire a majority interest in Keppel Bank Philippines for $25.8 million through its GE Capital International Financing Corp. affiliate.
If the deal clears regulatory hurdles and closes, GECF will "assume operational control of the bank," according to a GECF press release.
Established in 1897, Keppel Bank is the oldest savings bank in the Philippines and has total assets of about $90 million. It has 30 ...