Deals
Wing Hang’s Third-Biggest Investor Accepts OCBC Bid Offer
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Aberdeen Asset Management Plc, the third-biggest shareholder in Wing Bank Bank Ltd., agreed to sell its shares in the lender to Oversea-Chinese Banking Corp., moving the Singaporean buyer closer to a full takeover.
“We’ve tendered” the entire stake Aberdeen held in Wing Hang, Hugh Young, a Singapore-based managing director at the fund management company, wrote in an e-mail today without saying when the sale took place. Aberdeen owned 7.4 percent of the Hong Kong-based target as of July 1, data compiled by Bloomberg show.