HANOI: VietinBank, Vietnam's second-biggest partly private lender by assets, will sell a 20% stake the biggest available to foreign investors to Japan's Bank of Tokyo-Mitsubishi UFJ for 15.46 trillion dong (US$743mil).
The Hanoi-based bank would issue new shares to the Japanese lender, VietinBank said in a statement, in Vietnam's largest-ever bank merger and acquisition deal. As part of the deal, the Japanese bank will have two seats on Vietin's board.
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