BEIJING, Sept. 23 (UPI) -- Two European investors will pay $330 million for a nearly 14 percent stake in China's Huaxia Bank.
Deutsche Bank, Germany's biggest lender, and an unnamed partner, are expected to complete the acquisition of the Beijing-based bank before year's end, China's Xinhua news agency said Friday.
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The move ended a competing bid by French bank Societe Generale.
Deutsche will become one of the top three owners of Huaxia and get two seats on the bank's board.