Reported 12 months ago
Before 4:10 pm on July 1, 2024, Li Peng-ling (Taipei) reported that Tsai Zhenyu, the Vice Chairman of Cathay Financial Holdings, is reportedly interested in acquiring a majority stake in both An Tai Bank and King's Bank at once, aiming to promote a merger between the two banks. The major shareholders of both banks have been looking to sell, and discussions on the acquisition and subsequent operational plans are underway with the Financial Supervisory Commission. If approved, the acquisition process involving site inspections, bidding, and follow-up acquisitions would commence. Tsai Zhenyu's potential acquisition is estimated to cost between 40 to 50 billion New Taiwan Dollars, with analysis suggesting that his financial capabilities are sufficient for the purchase. Market observers also note potential strategies to meet ownership regulations while facilitating the merger of the two banks.
Source: YAHOO