Fukuoka Financial Group, Inc. completed the acquisition of The Fukuoka Chuo Bank, Ltd..
September 26, 2023
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Fukuoka Financial Group, Inc. (TSE:8354) signed an Memorandum Of Understanding to acquire The Fukuoka Chuo Bank, Ltd. (FKSE:8540) on November 11, 2022. Fukuoka Financial Group, Inc. (TSE:8354) signed an agreement to acquire The Fukuoka Chuo Bank, Ltd. (FKSE:8540) for ¥4.8 billion on March 14, 2023. The share exchange ratio is 1.23456 per share. The deal is expected to close on October 1, 2023. As on September 27, 2023, the transaction was approved by the financial services agency. Nomura Securities acted as fairness opinion provider to Fukuoka Financial Group, Inc. Mizuho Securities acted as financial advisor to The Fukuoka Chuo Bank, Ltd. (FKSE:8540).
Fukuoka Financial Group, Inc. (TSE:8354) completed the acquisition of The Fukuoka Chuo Bank, Ltd. (FKSE:8540) on September 27, 2023.
Fukuoka Financial Group is a holding company organized around 2 areas of activity:
- bank: loans granting, factoring, intervention on the exchange markets, etc.;
- other: recovery services, leasing and securities services, granting and management of credit cards, etc.
At the end of March 2019, the group managed YEN 14,059.8 billion of current deposits and YEN 12,994.2 billion of current credits.