Chinese bank ICBC is in talks to buy a stake in Taiwan’s Cathay Financial, sources say, in a deal that could be worth more than $3 billion.The talks come amid an easing of cross-strait relations between the former enemies, in hopes of boosting both economies and political ties.
In other M&A news reported by Reuters and other media on Wednesday:
Kohlberg Kravis Roberts and Taiwan financial conglomerate Fubon Financial are among the bidders for Morgan Stanley’s stake in Chinese investment bank CICC, sources say, in a deal that could be worth more than $1 billion.
Government-controlled Brazilian bank Caixa Economica Federal agrees to pay $429 million for a 49 percent voting stake in commercial bank Banco Panamericano to expand in consumer lending.
Takeda Pharmaceutical, Japan’s largest drugmaker, may look for acquisitions in India to boost its presence in Asia’s third-largest economy, the Financial Express reports.