|
|
Article: Shinsei Bank inks pact for strategic investment in Taiwan.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- May 10, 2006
CopyrightCOPYRIGHT 2006 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Ella Lu
May 10--TAIPEI -- Taiwan's Jih Sun Financial Holding Co. said Wednesday it has reached an agreement with Japan's Shinsei Bank Ltd. for a strategic alliance that will make the Tokyo-based bank the first foreign financial institution to participate in the operation of Taiwanese banks.
Under the agreement, Shinsei will invest up to NT$11.34 billion (40.2 billion yen) in Jih Sun's common and preferred shares, representing 31.8 percent common ownership, and obtain three seats on the executive board, the company said.
Jih Sun, one of Taiwan's 14 financial holding companies, has total consolidated assets of NT$345.7 billion and a net ...