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Philippines: BDO buy-out of EIB positive for gov't - BSP.
Section: General News - The Bangko Sentral ng Pilipinas (BSP) on Wednesday doused water over issues saying Banco de Oro Unibank's (BDO) acquisition of the problem-laden Export-Import Bank (EIB) is beneficial only for BDO.
In a statement, the central bank said it is not true that BDO is getting a preferential deal in its acquisition of EIB.
It said BDO serves as the savior and survivor here and was chosen by EIB, a commercial bank, after a wide selection process that involves large number of potential domestic and international "white knights." As proposed, BDO is acquiring all the assets and assuming all the liabilities of EIB, the central bank said pointing out that …
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