UnionBank Raising Up To $1.1 Billion To Fund Acquisition Of Citigroup’s Philippine Consumer Banking Unit - Forbes

UnionBank of the Philippines—which counts the Aboitiz family as its biggest shareholder—is raising as much as 59 billion pesos in a stock rights offering to fund the acquisition of Citigroup’s consumer banking business in the country.

A pedestrian walks in front of Citibank's office in the financial district of Makati suburban Manila ... [+] on November 18, 2008. Asian shares fell November 18 on mounting fears of an extended globa… [+2027 chars]

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