The analysis and comments contained in the web page www.Renta4.com ESTN aimed at investors with exp

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By Saabira Chaudhuri ecu THE WALL STREET JOURNAL Bank of New York Mellon Corp. has reached an agreement to sell its participation in the company ecu based in Hong Kong Wing Hang Bank Ltd., in an operation that will report about $ 500 million. The participation of the bank based in New York, which tena an enterprise value of U.S. $ 544 million at the end of March, passed ecu into the hands of Oversea-Chinese Banking Corporation Ltd., OCBC. Bank of New York Mellon is the second largest shareholder of Wing Hang by the Fung family ecu behind. Both are dueos total of 48% of the entity. OCBC, the second largest bank in Singapore by assets, arrived at an agreement ecu recently to buy Wing Hang Bank for about $ 5,000 million. In a statement on Friday, the regulator said BNY Mellon received income related to their participation in Wing Hang U.S. $ 95 million in 2013. Sale is expected in the third quarter. Write to Saabira Chaudhuri to saabira.chaudhuri @ wsj.com Related Companies: U.S., BK Information ecu provided by Dow Jones. Related News
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