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标题: Citigroup要收购广东发展银行么？ [M11] [打印本页]

作者: King Lion 时间: 2005-12-31 10:55
标题: Citigroup要收购广东发展银行么？ [M11]
Citi beats ABN, SocGen to coveted China bank buy

By George Chen and Daisy Ku
Fri Dec 30, 3:07 PM ET

SHANGHAI/HONG KONG (Reuters) - A Citigroup-led consortium has won the right to buy 85 percent of China's Guangdong Development Bank for $3.2 billion, beating rival groups led by ABN AMRO and Societe Generale, three sources close to the deal said.

The purchase would grant the world's top financial services company unusually large influence over a single medium-sized Chinese lender, at a time when local interests complain that foreign firms are acquiring stakes in Chinese banks on the cheap.

Six officials from the bank regulator, the central bank and the Guangdong provincial government made their decision during a closed-door meeting at Guangdong Bank's headquarters in Guangzhou late on Thursday, a source close to the Chinese bank and a second source familiar with the deal told Reuters on Thursday.

Bidders had been informed of the group's decision in Beijing on Friday, which now awaited final cabinet approval, said a third source who attended meetings in the capital aimed at briefing the parties involved.

The six-person group would submit minutes of Friday's meeting to the cabinet, or State Council, within days.

Citigroup (NYSE:C - news) will kick off exclusive negotiations with Guangdong Bank as early as next week on technical areas including staff benefits, IT support and new management, two sources said.

"Unless the exclusive negotiations fail unexpectedly, or the cabinet refuses to approve the deal, there's no longer any chance for other bidders," a senior executive close to Guangdong Bank told Reuters on condition of anonymity.

The Citigroup-led consortium includes major state-owned firms, including China National Cereals, Oils & Foodstuffs Corp., and at least one foreign investor, the second source said.

Citigroup aims to take nearly 50 percent of the bank, with the remainder going to its partners, all three sources said.

"Citigroup will take some board seats and have the right to appoint both the new chairman and president," the senior executive added. "And the bank will list shares eventually."

Citigroup and Societe Generale declined to comment on Friday. ABN AMRO officials were not immediately available for comment.

The meeting dragged on into the evening on Friday, as officials and banking executives pored over a final document that would be sent to the cabinet. A source familiar with the proceedings said the only way Citigroup would now fail would be if the cabinet vetoed the deal.

CATCHING UP

Beijing, struggling to clean up a banking sector saddled with $200 billion in sour debt, is pushing local lenders to seek foreign capital and expertise. Overseas investors want access to the $1.7 trillion in personal savings and a booming consumer credit sector that is still in its infancy.

Citigroup is trying to catch rivals with bigger investment footprints in China such as HSBC Holdings Plc (HSBA.L) (0005.HK) and Bank of America Corp. (NYSE:BAC - news).

It plans also to quadruple its 4.62 percent stake in Shanghai-listed Pudong Development Bank (600000.SS), which has agreed to waive exclusivity agreements with the U.S. firm and cleared the way for Citi's second investment in a Chinese lender.

Foreign lenders are now allowed to own 20 percent singly or 25 percent collectively of a Chinese bank, but are lobbying for restrictions to be eased. Citigroup's deal would thus require special permission from the State Council.

Partly because of that, Citigroup would buy its Guangdong Bank stake at more than twice book value -- more expensive than China Construction Bank's (0939.HK) $9.2 billion IPO this year that was priced at slightly below two times book value.

"The price looks high but it's still a small dish for Citigroup," said Wu Yonggang, senior analyst with Guotai Junan Securities Co.

Analysts said Guangdong Bank, with nearly 500 branches concentrated in booming southern China, attracted heavy international interest because it was one of the last sizeable Chinese banks without a foreign partner.

"After the deal, there will be almost no more big ideal banking targets left," Wu said.

The six-person evaluating group comprised two people from the central bank, two from the China Banking Regulatory Commission and two from the Guangdong provincial government, both of whom supported Citigroup's bid during the meeting.

Citigroup, ABN AMRO (AAH.AS) and Societe Generale (SOGN.PA) were finalists from an initial group of 20 candidates. DBS Group Holdings Ltd. (DBSM.SI) had also been favored but dropped out of the bidding.

ABN AMRO teamed up with China's second-largest life insurer, Ping An Insurance (2318.HK), months ago. But the Dutch lender decided to quit the alliance over unspecified disagreements, leaving Ping An a solitary bidder, sources said.

"Ping An and SocGen will be 'back-up' choices ... in case Citigroup fails," the third source said.

Guangdong Bank was once considered one of the most financially shaky of the country's commercial banks but it is also the second-largest lender in the affluent southern province.

Sources said the bank will be transformed into "a new and clean bank," aiming for a capital-adequacy ratio of more than 9 percent in two years, versus nearly 23 percent at the end of 2003.

作者: King Lion 时间: 2005-12-31 10:56
标题: Re: Citigroup要收购广东发展银行么？ [M11]
谁有内幕消息的出来说一下 [M11]

作者: 华少 时间: 2005-12-31 11:06
标题: Re: Citigroup要收购广东发展银行么？ [M11]
第六轮竞标价(85%的股权出售）：花旗集团241亿元；法国银行财团235亿元（中石化加入该财团）；平安保险财团226亿元。竞标阶段自此结束，接下来，将有广东省政府、银监会、央行和广发行族人六人评审小组在北京议标，定标将在数日之内。
因为各竞标方担心在过渡期间冒出新的历史不良贷款，广东省政府对新进投资的保障补偿上限从投资总额的50％提高到了60％。据悉，花旗已经胜出，但是其他两方尚未放弃最后的希望。

作者: 不做流氓的兔 时间: 2005-12-31 11:35
标题: Re: Citigroup要收购广东发展银行么？ [M11]
是要发生股权变化，但是不是收购就不清楚了 [M14]

作者: 地狱的VIP 时间: 2005-12-31 11:47
标题: Re: Citigroup要收购广东发展银行么？ [M11]
是的.国外几家银行已经递交了投标书.不记得是四家还是三家.听说大概要以15亿美金以上的价格收购百分之八十的股权.

广发行很难再撑下去了,他们的坏账包袱太大.

作者: yesdz 时间: 2005-12-31 11:52
标题: Re: Citigroup要收购广东发展银行么？ [M11]
问下广发行的朋友先 [M14]

作者: King Lion 时间: 2005-12-31 11:53
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 地狱的VIP At 2005-12-31
是的.国外几家银行已经递交了投标书.不记得是四家还是三家.听说大概要以15亿美金以上的价格收购百分之八十的股权.

广发行很难再撑下去了,他们的坏账包袱太大.

看来是有这事了，新闻里说Citigroup组建的投资团以32亿美元收购85%的股权，最后Citigroup将能得到近50%的股权和主要的管理权，当然一切都得经过国务院特批才能附诸于实施。

作者: King Lion 时间: 2005-12-31 11:55
标题: Re: Citigroup要收购广东发展银行么？ [M11]
偶很是满意论坛的原因之一就是信息源广 [M04] [M04]

作者: 地狱的VIP 时间: 2005-12-31 12:00
标题: Re: Citigroup要收购广东发展银行么？ [M11]
从去年下半年开始,广发行对贷款已经非常的谨慎了.听朋友说,他们的坏帐包袱已经令高层很头疼了.再这样下去,发行只能因噎废食了. [M04] [M04]

作者: 不做流氓的兔 时间: 2005-12-31 12:00
标题: Re: Citigroup要收购广东发展银行么？ [M11]
KL这么关心这件事，难道想…… [M11]

作者: 地狱的VIP 时间: 2005-12-31 12:04
标题: Re: Citigroup要收购广东发展银行么？ [M11]
广发行在中国银行里评级最低，为(CCC p i)。坏帐偏高，贷款损失准备金偏低，这是其评级定为CCC p i的主要原因，所以它急需注入大量资金，来改善其脆弱的资产负债状况也不奇怪.

作者: Dancing 时间: 2005-12-31 12:06
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 地狱的VIP At 2005-12-31
深发行在中国银行里评级最低，为(CCC p i)。坏帐偏高，贷款损失准备金偏低，这是其评级定为CCC p i的主要原因，所以它急需注入大量资金，来改善其脆弱的资产负债状况也不奇怪.

是深发行还是广发行？

作者: 地狱的VIP 时间: 2005-12-31 12:09
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By Dancing At 2005-12-31
[quote]QUOTE Created By 地狱的VIP At 2005-12-31
深发行在中国银行里评级最低，为(CCC p i)。坏帐偏高，贷款损失准备金偏低，这是其评级定为CCC p i的主要原因，所以它急需注入大量资金，来改善其脆弱的资产负债状况也不奇怪.

是深发行还是广发行？[/quote]

不好意思写错了.广.呵呵. [M04]

作者: 百草园 时间: 2005-12-31 12:50
标题: Re: Citigroup要收购广东发展银行么？ [M11]
看来 GF 很不掂，偶要赶紧把里面的钱取出来了。 [M08]

作者: King Lion 时间: 2005-12-31 12:54
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 不做流氓的兔 At 2005-12-31
KL这么关心这件事，难道想…… [M11]

偶什么也不想，纯粹八卦而已 [M24]

作者: King Lion 时间: 2005-12-31 12:54
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 百草园 At 2005-12-31
看来 GF 很不掂，偶要赶紧把里面的钱取出来了。 [M08]

这个担心没必要吧？ [M16]

作者: 百草园 时间: 2005-12-31 13:24
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By King Lion At 2005-12-31
[quote]QUOTE Created By 百草园 At 2005-12-31
看来 GF 很不掂，偶要赶紧把里面的钱取出来了。 [M08]

这个担心没必要吧？ [M16][/quote]
是没什么必要，只是偶胆子小，不敢立于危墙之下。 [M03]

作者: 冷月 时间: 2005-12-31 13:43
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 华少 At 2005-12-31
不是已经有中信银行么？还要再来一个？

这个应该是花旗集团。

作者: 华少 时间: 2006-1-1 12:41
标题: Re: Citigroup要收购广东发展银行么？ [M11]

QUOTE Created By 冷月 At 2005-12-31
[quote]QUOTE Created By 华少 At 2005-12-31
不是已经有中信银行么？还要再来一个？

这个应该是花旗集团。[/quote]
是的，当时就是这样 [M01]

作者: 解放前 时间: 2006-1-1 14:15
标题: Re: Citigroup要收购广东发展银行么？ [M11]
这银行在哪里?

作者: 秋天的风 时间: 2006-1-2 11:16
标题: Re: Citigroup要收购广东发展银行么？ [M11]
看英文太累，KL不翻译一下？
[M04]

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