Fubon subsidiaries merge into one

The financial group approves its merger plan to become the first integrated financial services firm in Taiwan.

The various boards of directors of the five subsidiaries of Taiwanese financial firm Fubon Group have approved the structure and mechanism of the group's merger into a single financial holding company. The directors of Fubon Securities, Fubon Insurance, Fubon Bank, Fubon Life and Fubon Securities Invesment Trust approved the plan on September 12 and will meet again on September 26 to finalize the details, including the swap ratios.

The first step of the merger process will be to establish Fubon Insurance as Fubon Group and transfer all the insurance business to a new company. Step two will be the exchange of shares in Fubon Bank, Fubon Securities and Fubon Life for new shares in...

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