UCBH Holdings wins approval for bank acquisition

San Francisco-based UCBH Holdings Inc. (UCBH), the holding company of United Commercial Bank (UCB), has received all regulatory approvals needed for its acquisition of Shanghai-based Business Development Bank Ltd.

The $205 million cash acquisition of the privately held Chinese bank, announced in March, is expected to be completed in December this year.

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Behind the scenes at the Goldman Prize

Executive director talks about mission of awards, which are announced May 25