Central Trust ready to privatize

PUBLIC AUCTION As part of the Ministry of Finance's continuing effort to shed its stakes in financial institutions, Central Trust of China's banking and insurance units will be sold

By Jackie Lin and Amber Chung / STAFF REPORTERS

Taiwan Business Bank said earlier this week that it has received takeover bids from other financial companies. The finance ministry is offering its 28.4 percent stake in the bank through a share swap, which has reportedly attracted several interested buyers, including Chinatrust Financial Holding Co (中信金控), Fubon Financial Holding Co (富邦金控) and the state-run Mega Financial Holding Co (兆豐金控), to hand in their acquisition plans earlier this week.

The share sale is slated for September. Goldman Sachs is arranging the transaction.