Oversea-Chinese Banking Corporation Limited (SGX:O39) said that it was in exclusive talks to acquire Wing Hang Bank Limited (SEHK:302). The company said in a statement to the Singapore Exchange that it has signed an "exclusivity agreement" on December 31, 2013 with the substantial shareholders of Wing Hang. The substantial shareholders agreed to hold exclusive talks with Oversea-Chinese Banking until the end of January 2014 to finalize terms "for a possible transaction" that would involve the Singapore bank making a general offer for all Wing Hang shares.

Oversea-Chinese Banking said, "Accordingly, at this stage, there is no certainty that the terms of a possible offer will be agreed, or that a possible offer or any similar transaction will ultimately be consummated."