Taiwa's Sinopac sale of US unit to Cathay General at risk as deadline approaches

Taiwan

Taiwan’s financial watchdog will not approve Sinopac Financial Holdings’ $340 million sale of its U.S. unit to Cathay General Bancorp unless Sinopac submits the necessary paperwork, a source with the regulator said.

Some board members at Taiwan’s Sinopac are hesitant to sign off on the deal, feeling “seller’s remorse” as the price tag now looks too low, three separate sources with direct knowledge of the matter said.

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