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Business deals

Hong Kong's Dah Sing Bank draws new Japan investor

Norinchukin Bank is third Japanese lender to invest in family-owned company

Dah Sing Bank, which marks its 75th anniversary this year, is one of Hong Kong's few family-owned lenders. (Photo by Kenji Kawase) 

HONG KONG -- Japan's biggest agricultural lender Norinchukin Bank said Friday that it has taken up a nearly 10% stake in family-owned Hong Kong bank Dah Sing Financial Holdings.

The deal, which could be worth 753 million Hong Kong dollars ($95.92 million), marks Norinchukin as the third Japanese lender after Sumitomo Mitsui Trust Holdings and Mitsubishi UFJ Financial Group to invest in Dah Sing since the late eighties when Japan Inc. was at the height of a global asset-buying spree.

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