Fubon Financial Holding Co., Ltd. (TWSE:2881) agreed to acquire remaining 41.27% stake in JihSun Financial Holding Co.,Ltd. (TPEX:5820) for TWD 21.1 billion on September 16, 2021. The consideration shall be paid in cash at TWD 13 per share. As on May 5, 2022, the consideration offered changed to TWD 11.71. As of date, Fubon Financial Holding Co., Ltd. holds 56.92% stake in JihSun Financial Holding. As of March 31, 2022, Fubon Financial Holding Co., Ltd. holds 58.73% stake in JihSun Financial Holding. Post completion, Jih Sun will apply for delisting and dissolution. Upon the completion of the merger, Fubon Financial Holding Co., Ltd. will be the surviving company and JihSun Financial Holding Co.,Ltd will be the dissolved company. The consideration shall be paid from its own funds. The transaction is subject to shareholders approval of JihSun Financial Holding Co.,Ltd., Financial Supervisory Commission, JihSun and approval from competent authority. As of October 28, 2021, the transaction is approved by the board of JihSun Financial and Fubon Financial. As of May 5, 2022, Board of Fubon Financial approved all the changes. The extraordinary general meeting of shareholders of Fubon is planned to held on November 5, 2021. The Board of Directors of Fubon Financial Holding Co., Ltd also passed the resolution for the transaction. The transaction is subject to competent authority approval. Completion is expected to take place during first quarter of 2021. Chiu Chi-Sheng of Crowe Horwath (TW) CPAs acted as an advisor to JIH SUN FINANCIAL HOLDING CO., LTD. Audry Ho of Ernst & Young acting as an advisor to Fubon Financial Holding Co., Ltd. Baker & McKenzie, Taipei acted as legal advisor to Fubon Financial Holding Co., Ltd. (TWSE:2881).

Fubon Financial Holding Co., Ltd. (TWSE:2881) completed the acquisition of remaining 41.27% stake in JihSun Financial Holding Co.,Ltd. (TPEX:5820) on November 11, 2022.