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Sanwa Bank to buy stake in H.K.'s Dah Sing Financial

Asian Economic News, March 27, 2000

TOKYO, March 21 Kyodo

Sanwa Bank said Tuesday it will buy a stake in Hong Kong's Dah Sing Financial Holdings Ltd., a holding company which owns Dah Sing Bank, in order to strengthen its operations in Asia.

Sanwa Bank plans to buy by the end of March the 12.3% stake that Mitsui Trust & Banking Co. owns in Dah Sing Financial Holdings.

The Japanese bank hopes to acquire more shares later to increase its stake to more than 20%, company officials said.

Dah Sing Financial Holdings also owns a life insurance company and other firms and has 39 branch offices in Hong Kong.

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Sanwa Bank is seeking an alliance to integrate its own branches with those of Dah Sing and hopes to boost business with small and medium-sized Japanese firms in southern China, company officials said.

Sanwa Bank to buy stake in H.K.'s Dah Sing Financial

Asian Economic News, March 27, 2000

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