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Mega Group Ratings Affirmed On Plans To Acquire Taiwan Business Bank Dec 05
Standard & Poors, December 2005
HONG KONG (Standard & Poor's) Dec. 20, 2005--Standard & Poor's Ratings Services said today that it had affirmed its ratings on International Commercial Bank of China (ICBC, A/Stable/A-1), Chiao Tung Bank (Chiao Tung, A/Stable/A-1), and Chung Kuo Insurance Co. Ltd. (BBB+/Stable/--), operating subsidiaries of Mega Financial Holding Co. Ltd. (Mega), following an announcement by Mega that it intends to acquire up to 26% of Taiwan Business Bank (TBB) over the next year at a price of no more than Taiwan dollar (NT$) 9 per share. The deal is still subject to the regulator's approval. This transaction is a vital part of the government's stated policy of consolidating the banking sector. If Mega acquires full control of TBB and TBB merges...
Companies mentioned in this report are: Mega Financial Holding Co. Ltd.,Chiao Tung Bank,Mega International Commercial Bank Co. Ltd.,Chung Kuo Insurance Co. Ltd.
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Mega Financial Holding Co. Ltd.,Chiao Tung Bank,Mega International Commercial Bank Co. Ltd.,Chung Kuo Insurance Co. Ltd.