Deals
Commonwealth Bank Spends $55 Million to Boost Vietnam Stake
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Commonwealth Bank of Australia, the nation’s biggest lender, will pay 1.15 trillion dong ($55 million) for an additional 5 percent stake in Vietnam International Commercial Joint-Stock Bank.
The purchase, approved by regulators in July, will increase Commonwealth’s stake to 20 percent, the maximum allowed for a foreign investor, from 15 percent, the Vietnamese lender known as VIB said in a statement published at a briefing in Hanoi today.