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HSBC HOLDINGS: HANG SENG BANK Bad Debt Handling Not the Strategic Factor in Privatization Plan
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HSBC HOLDINGS (00005.HK) plans to privatize HANG SENG BANK (00011.HK) at a 30.3% premium.

When meeting with reporters, David Liao, Co-CEO of Asia and Middle East at HSBC, said the deal represents a major investment by HSBC in the Hong Kong market, as well as its commitment and confidence in the city. The handling of Hang Seng's bad debts is not a strategic consideration in this privatization plan.

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After the privatization is completed, Hang Seng will retain its independently recognized banking license, as well as its independent corporate governance and brand.
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