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Wing Lung Bank delisted from HKEx

Jan. 16, 2009 (China Knowledge) - China Merchants Bank (CMB)<600036><3968>, the nation's fifth-largest bank by market value, finished its compulsory acquisition of Hong Kong-based Wing Lung Bank<96> on Thursday, making the latter a wholly-owned unit of CMB, sources.

CMB said in a statement filed with the Hong Kong Stock Exchange (HKEx) on Thursday that it has bought the remaining 2.18% stake from the shareholders at the price of HK$156.5 apiece and Wing Lung Bank would be delisted from the HKEx on Jan. 16.

On May 30 2008, CMB has entered into an agreement to take a 53.12% stake in Wing Lung Bank at HK$156.51 per share.

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