City state player boosting capital platform
(Singapore) - United Overseas Bank (UOB), Singapore's biggest domestic debt provider, is looking to take two of its finance subsidiaries, Overseas Union Trust and Industrial & Commercial Bank, private.
The transactions will enable UOB to increase its capital base, which slipped last year following the Bank's takeover of number 4 ranked Overseas Union Bank, by extracting excess capital for redeployment within UOB itself.
Merrill Lynch has been mandated as financial adviser to UOB for both transactions.
Merrill Lynch has been mandated as financial adviser to UOB for both transactions.