German insurance corporation HDI Global SE bought another 9.2 million
shares of PetroVietnam Finance and Insurance Company (PVI), becoming the
company''s largest shareholder with 37.63 per cent of stake.
The Viet Nam Public Commercial Joint Stock Bank (PVcom Bank) will be
established following the merger of the PetroVietnam Finance Joint Stock
Corporation and the Western Commercial Joint Stock Bank.
A PetroVietnam Finance Corp (PVF)''s shareholder meeting on Saturday resolved that the company would merge with Western Bank to form a new organisation, which was expected to have an equity of $428.6 million and total asset value of $4.8 billion.
Western Bank issued documents on its long-anticipated merger with PetroVietnam Finance (PVF) late last week, expected to be approved during the bank''s annual meeting on Friday.
