OCBC Bank of Singapore issued a statement on May 10 announcing that it has made a voluntary and unconditional comprehensive offer. It plans to spend 1.4 billion Singapore dollars (about 1 billion US dollars) to acquire Grand Oriental Holdings and delist Great Oriental after completing the acquisition. OCBC currently holds 88.44% of Dadongfang's shares and will acquire the remaining 11.56% of the shares at a price of SGD 25.6 per share. OCBC stated in a statement that the acquisition of Big Oriental is aimed at strengthening banking, wealth management and insurance businesses, while also hoping to increase shareholder returns.
新加坡华侨银行计划斥资近10亿美元将大东方控股私有化
OCBC Bank of Singapore plans to spend nearly $1 billion to privatize Grand Oriental Holdings
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