Hang Seng Bank shareholders approve HSBC’s US$13.6 billion buyout proposal
Shareholders of Hang Seng Bank on Thursday (Jan 8) voted for a plan floated by its majority owner HSBC to take the bank private, in a landmark move to further boost the Asia-focused lender’s presence in Hong Kong.
HSBC, which proposed to purchase 36.5 per cent of shares in Hang Seng not already owned by the company, won Hang Seng Bank shareholders’ green light, according to a joint announcement. REUTERS
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