UPDATE 1-HK's Bank of East Asia to review assets with support of Elliott Management [Reuters (UK)]
BANK OF EAST ASIA S/ADR (BKEAY)
NASDAQ:AMEX Investor Relations:
hkbea.com/html/en/bea-about-bea-investor-communication-annual-and-interim-reports.html
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Source: Reuters
UPDATE 1-HK's Bank of East Asia to review assets with support of Elliott Management - Reuters 2 Min Read * Hires Goldman Sachs for review of business portfolios and assets * Elliott to apply for a stay of judicial proceedings (Adds review details, context) HONG KONG, March 4 (Reuters) - Hong Kong-based Bank of East Asia Ltd (BEA), said on Wednesday it would carry out a comprehensive review of its portfolio of businesses and assets with the support of activist investor Elliott Management. A long-running dispute between Elliott and the bank’s directors was due to be heard in a Hong Kong court in early May, but BEA in its statement said Elliott would apply for a pause of those proceedings. Elliott has previously urged the bank - which counts Hong Kong and mainland China as its main markets - to explore putting itself up for sale in an open letter to shareholders, in which it also said BEA was poorly run by its current management. The U.S. hedge fund had also filed a lawsuit against the b
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