Chase deal is finance model; Mando buyout marks shift to capital channels. (Chase Manhattan Bank and UBS Capital acquire Mando Machinery Corp.)

Article Abstract:

United States companies Chase Manhattan Bank and UBS Capital L.L.C., acquire South Korea's motor vehicle parts manufacturer Mando Machinery Corp. The acquisition worth $446 million allows Mando Machinery to pay off its loans to Korea Exchange Bank. Foreign investors' involvement in the buyout is new for Asian businesses.

South Korea, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Foreign investments, Automobile equipment and supplies industry, Automotive parts industry, Automotive parts, Contracts, Asia, Chase Manhattan Bank N.A., UBS Capital L.L.C., Mando Machinery Corp., Korea Exchange Bank (Seoul, South Korea)

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Manila scraps auction of PNB after 'savior' bid fizzles. (Philippine National Bank)

Article Abstract:

Philippines government calls off auction of Philippines National Bank when one the bidding companies TLC Beatrice International Holdings Inc., was unable to sign on a banking partnership to boost its bid for the bank.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Philippines, Offices of Bank Holding Companies, Banking Regulation, Bank holding companies, Investment Holding Companies, Financial services industry, Financial services, Economic policy, Banking law, TLC Beatrice International Holdings Inc., Philippine National Bank, BIF

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HSBC is in deal to buy Republic New York; purchase is expected to boost U.S. presence but price is considered steep

Article Abstract:

HSBC Holdings PLC has decided to buy Republic National Bank of New York and its affiliated private-banking business for $10.3 billion. The deal is the largest ever made by HSBC. However, some analysts point out that the price to be paid is quite high. HSBC plans to finance the acquisition with a $3-billion share placement including an issue of preferred stocks and debt. The acquisition will allow HSBC to substantially improve its private banking operations.

United Kingdom, HSBC Holdings PLC, Republic National Bank of New York

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