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Haitong buys Novo Banco investment banking unit

Wednesday, December 10, 2014 - 05:50

New York

HAITONG Securities Co, China's second-largest brokerage by market value, will buy the investment banking unit of Portugal's Novo Banco SA for 379 million euros (S$618 million) to expand outside its home market.

The sale of Banco Espirito Santo de Investimento SA is