Dec 3 (Reuters) - Goldman Sachs has been hired by thebiggest shareholder of Wing Hang Bank Ltd to advise onthe sale of the Hong Kong family-run bank which has a marketvalue of $4.5 billion, people familiar with the matter toldReuters.
Chairman Patrick Fung's family, a family-linked affiliateand Bank of New York Mellon Corp, which own a combined 45percent of the Hong Kong-listed bank, said in September they hadreceived preliminary offers from independent third parties thatthey did not identify. [ID:nL3N0HD03U}
At least four suitors are expected to place bids inmid-December, added the people, who declined to be identified.
Wing Hang did not respond to an email seeking comment, whilea Goldman Sachs spokesman in Hong Kong declined to comment.
- Goldman Sachs
- Hong Kong