對衝基金起訴東亞銀行 要求擺脫家族控制
US hedge fund Elliott Management has launched legal proceedings that it hopes will prise Hong Kong’s Bank of East Asia
美國對衝基金埃利奧特管理公司(Elliott Management)提起訴訟，希望將香港東亞銀行(Bank of East Asia)從其控股家族剝離，從而允許香港最後一個家族經營銀行被業內同行收購。
away from its controlling family and allow for a trade sale of the city’s last family-run lender.
埃利奧特提交的訴狀首次請求法庭命令東亞銀行解除針對西班牙Criteria Caixa和日本三井住友銀行(Sumitomo Mitsui Banking Corporation)的合同限制。埃利奧特認爲，這些限制對東亞銀行有利。
The petition filed by Elliott has for the first time sought for a court to order BEA to release Spain’s Criteria Caixa
東亞銀行2007年開始對Caixa銀行發行股票，從那時起，這家西班牙銀行和三井住友銀行總共收購了東亞銀行36%的股份——東亞銀行稱與這兩家銀行是戰略合作關係，但是一些投資者稱，這是不必要的股權稀釋，目的是保護家族所有權。
and Japan’s Sumitomo Mitsui
Caixa銀行的母公司Criteria Caixa以及三井住友銀行，仍然受制於同東亞銀行達成的協議，使它們不能減持或增持在這家香港銀行所持股份。解除這些條款可能使東亞銀行被收購。
Banking Corporation from any contractual arrangements it finds to be in favour of the BEA.
去年，一家法院允許埃利奧特審閱東亞銀行內部文件。這家由億萬富翁保羅•辛格(Paul Singer)執掌的對衝基金認爲，這些文件表明東亞銀行“涉嫌存在嚴重的企業治理缺陷”，其管理層想利用配股來保留對銀行的控制權。
BEA began issuing shares to Caixabank in 2007 and since then the Spanish bank and SMBC have bought a combined 36 per cent stake in the bank — what BEA has termed strategic partnerships, but some investors have said was an unnecessary share dilution aimed at protecting family ownership.
該銀行的控制者李氏家族持有不到7%的股權。埃利奧特管理公司也持有大約7%的股權。
Criteria Caixa, Caixabank’s parent company, and SMBC are still locked in agreements with BEA that restrict them from reducing or increasing their stakes in the Hong Kong bank. Scrapping those clauses could allow for a takeover of the bank.
作爲香港最大的獨立銀行，東亞銀行經常反駁這些說法。東亞銀行表示，埃利奧特管理公司是爲了自己而不是少數股股東的利益，一味專注於把東亞銀行賣掉。
The legal proceedings come after a court last year allowed Elliott to review internal BEA documents. The hedge fund, run by billionaire Paul Singer, argues those documents reveal “alleged serious corporate governance failings” and that BEA management intended to use the share placements to retain control of the bank.
“我們將全力抵制埃利奧特管理公司對我行和我行董事的攻擊，”東亞銀行董事長、行政總裁李國寶(David Li)說。“他們的行動是自私自利且精心策劃的，爲的是分散仍致力於股東利益最大化的管理層和董事會的注意力。”
The Li family, which controls the bank, holds less than 7 per cent of the stock. Elliott also holds a stake of about 7 per cent.
東亞銀行還表示：“儘管去年我行應埃利奧特管理公司的要求向他們公佈了所有相關機密文件，但他們至今拿不出我行對三井住友銀行配股的目的不正當的任何證據。”
