ICBC acquires South American Bank
By Wang Xiaotian | China Daily | Updated: 2011-08-06 07:53
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Customers at a branch of Standard Bank in Rosebank, Johannesburg, South Africa. Industrial & Commercial Bank of China Ltd has a 20 percent stake in South Africa's biggest bank by assets. Naashon Zalk / Bloomberg |
The Chinese lender will pay $600 million for 80 percent shareholding
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