国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Companies

Haitong Securities in talks to buy BES unit

(Agencies) Updated: 2014-12-04 21:41

Chinese brokerage Haitong Securities Ltd is in talks to buy Portuguese bank Banco Espirito Santo's (BES) investment banking unit. ?

A purchase of the bailed-out Portuguese lender's unit would be Haitong's first acquisition outside?China.

It would be the highest-profile overseas deal by a Chinese brokerage since Citic Securities Citic, China's largest brokerage, purchased CLSA from French bank Credit Agricole SA for $1.25 billion in 2013.

Haitong said in a statement late on Thursday it's in talks to buy Banco Espirito Santo de Investimento SA (BESI), BES's investment banking arm, confirming an earlier Reuters story.

Local media in Portugal have valued BESI at around 400 million euros ($493 million).

A spokesman for BESI did not offer any immediate comment when contacted by Reuters.

Portugal's central bank rescued BES using 4.9 billion euros of public funds in August this year and is now seeking to recoup those funds through asset sales.

BESI, the largest investment bank in Portugal, made a net profit of 3 million euros in the first half of 2014 while its parent BES made a net loss of 3.6 billion euros in the same period, according to the company's website. BESI employs about 1,000 people and had 5.8 billion euros in assets at the end of June 2014.

Haitong raised $1.7 billion through a Hong Kong share listing in 2012. It said in the prospectus for that deal it was setting aside about 35 percent of proceeds "for strategic acquisitions of overseas securities firms and/or further expansion of our overseas securities business."

In October last year China Construction Bank Corp bought Brazil's Banco Industrial e Comercial SA.

Industrial and Commercial Bank of China bought 80 percent of Standard Bank's Argentina SA from Standard Bank London Holdings for an estimated $600 million in cash in 2011.

"It's been very rare to have the opportunity globally in the last five years to buy a controlling stake in any sizeable financial company, so it's an opportunistic buy," said Jim Antos, banking analyst at Mizuho Securities Asia.

Haitong shares were halted on Thursday ahead of the announcement. Haitong's shares have risen 44 percent so far this year in Shanghai, outpacing a 27 percent rise in the Shanghai CSI 300 index.

Hot Topics

Editor's Picks
...
北安市| 比如县| 衡山县| 金沙县| 大渡口区| 舟曲县| 合水县| 工布江达县| 阳原县| 赞皇县| 横山县| 三门峡市| 阜南县| 二连浩特市| 澜沧| 高陵县| 岳阳县| 安徽省| 喀喇| 黑水县| 响水县| 咸阳市| 永嘉县| 昌江| 宜昌市| 香港 | 柳江县| 郯城县| 潞城市| 韶山市| 满洲里市| 梓潼县| 金坛市| 仪陇县| 额尔古纳市| 白水县| 扬中市| 乐业县| 高台县| 宿松县| 贺州市|