Regulator speeds 1st approval of Hana-KEB proposed mergerThe Financial Services Commission gave preliminary approval to a merger of Hana Bank and Korea Exchange Bank on Wednesday. The approval came nine days after Hana submitted the review of the merger to the financial authority. The FSC said the review was short because it had already done a review in January when Hana submitted its first application.
Hana will ask shareholders to approve the merger early next month and then ask the commission for its final consent. The preliminary review is intended only to discover legal bars to a merger. The final review will look into the details, including the governance structure and the competence of executives.
More in Industry
Shake Shack discovers gochujang
Celltrion plans merger, holding company transition
Soaring iron ore prices batter Korea's steelmakers
BTS among performers at Lotte Duty Free 40th anniversary concert