HSBC increases stake in Bao Viet Holdings

HSBC spends $102 million to boost its stake in VietnamÆs largest insurance and financial services group to 18%.

Following regulatory and shareholder approvals, HSBC Insurance Asia-Pacific announced it has increased its shareholding in Bao Viet Holdings to 18% from 10% at a cost of Vnd1.88 trillion $102 million.

HSBC acquired a 10% interest in Bao Viet, Vietnam's leading insurance and financial services group, in September 2007. Under the terms of the original agreement, HSBC had an option to purchase a further 8% of Bao Viet's shares from the ministry of finance MoF. In October 2009...

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