GE’s Bank of Ayudhya Stake Garnering Interest from Top Banks: Merger and Acquisition Recap

General Electric Company’s (NYSE:GE) $1.5 billion interest in Thailand’s fifth-largest lender, Bank of Ayudhya (BKAHF.PK), is attracting several bidders, say sources to Reuters on Thursday. Among the first-tier hopefuls is the largest bank in Japan,  Mitsubishi UFJ Financial Group (MBFJF.PK). Those companies bidding or said to be interested, including Malaysia’s CIMB Group Holdings (CIMBDF.OB) and possibly Singapore’s Oversea-Chinese Banking Corp (OVCHF.PK), want a foothold in one of Asia’s most rapidly growing economies. Further, they are likely to try for full control of the bank with its $5.9 billion market value.

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