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UOB in exclusive talks for possible sale of Hengfeng Bank stake
UOB Bank said that it is in exclusive talks with Shandong Lucion Investment Holdings Group Co on a possible sale of its stake in Hengfeng Bank Co Ltd, China.
Lucion is wholly owned by Shandong Provincial State-owned Assets Supervision and Administration Commission and Shandong Provincial Council for Social Security.
UOB last traded at S$24.80, up S$0.20 or 0.8 per cent.