Bank of China Ltd. will sell Malaysian and Thai assets to its Hong Kong subsidiary for HK$6.9 billion ($887 million) as the fourth-largest mainland lender restructures its businesses in Southeast Asia.
The company will sell Bank of China (Thai) Pcl for about HK$3.1 billion and Bank of China (Malaysia) Bhd. for around HK$3.8 billion to BOC Hong Kong (Holdings) Ltd., according to announcements made Thursday to the city’s stock exchange. The amount will be paid in cash in Hong Kong dollars.
