first chinese banking acquisition in us (ter)

October 11, 2007 6:11am CST
Has Minsheng blazed a path for its peers to follow? don't hold your breath.Minsheng,unlike the bulk of its peers,is privately owned and was prepared to settle for a minority stake.That may have soothed US regulators,who are more likely to bridle at advances by state-controlled entities.UCBH is also a special case.Its immediate need for cash meant it was prepared to sell the initial slug of stock at market price.Ironically,the cash raised from china will soon return there,to fund UCBH's purchase of shanghai-based business development bank.The whiff of reciprocity doubtless pleased the americans.beijing,which sees overseas acquisitions in part as a way to balance the waves of foreign money entering china,may have a different view.
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