Fubon subsidiaries merge into one

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.