SHANGHAI: The Industrial and Commercial Bank of China says it plans to buy a stake in Thailand's ACL Bank, and to make a tender offer to other shareholders.
The deal between the Bangkok Bank of Thailand calls, announced late Tuesday, calls for ICBC to buy a 19.26 percent stake in ACL at 11.5 Thai baht (0.34 U.S. cents) per share, the Chinese lender said in a statement posted on its Web site.
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