October 5, 2016 / 10:32 AM / a year ago

BRIEF-Bank of East Asia disposes Tricor Holdings

Oct 5 (Reuters) - Bank of East Asia Holdings Limited :

* Bank, NWS Holdings and East Asia Secretaries entered into a share purchase agreement with Trivium for sale of all issued shares of Tricor

* Deal for a cash consideration of HK$6,469.7 million

* Expected that proceeds from disposal will be used as general working capital of bank and for its future business development

* Bank is expected to book a profit in amount of about HK$3.100 billion in respect of disposal

* Immediately after closing, bank will cease to hold any equity interest in Tricor and Tricor will cease to be a subsidiary of bank Source text for Eikon: Further company coverage:

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