Hana to acquire stake in Chinese bank

SEOUL, Sept. 7 (Yonhap) -- Hana Bank, South Korea's fourth-largest lender, said
Monday it will purchase an 18.44 percent stake in a Chinese lender this month.
Hana Bank plans to invest $316 million to purchase newly-issued shares of the
Bank of Jilin in northern China, the lender said.
The upcoming transaction comes a year after Hana agreed with the Chinese bank to
a stake sale as part of efforts to expand its overseas operations.
"After completing the purchase of the stake, we will aggressively tap the Chinese
market in alliance with our Chinese unit launched in late 2007," an official at
Hana said.
pbr@yna.co.kr
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