AEON Financial Says Deal for Unit of Vietnam’s SeABank Invalid

AEON Financial Service said its deal to buy Post and Telecommunication Financial, a unit of Southeast Asia Commercial JSB known as SeABank, is “invalid” due to inappropriate accounting transactions prior to the acquisition, according to a statement on its website Friday.

• The Japanese company said that it will “strongly demand” a thorough investigation of the facts
• “SeABank was extremely surprised by AEON Financial’s unilateral disclosure” and has “promptly” responded and requested an official meeting between the two parties “at the earliest opportunity to clarify the matter in a spirit of cooperation and accordance with the rule of law,” the ...