Bank of Hawaii Completes Sale of Operations in Papua New Guinea and Vanuatu to ANZ.Business Editors HONOLULU--(BUSINESS WIRE)--Nov. 29, 2001 Bank of Hawaii Bank of Hawaii, a subsidiary of Bank of Hawaii Corporation (NYSE: BOH), is a regional commercial bank headquartered in Honolulu, Hawaii. It is Hawaii's second oldest bank and its largest locally owned bank in that majority of the voting stockholders reside within the state. (BOH), the principal subsidiary of Pacific Century Financial Corporation (PCFC PCFC Pacific Coast Feather Company PCFC Post-Compaction Fault Coverage ), announced today it has completed the sale of its operations in Papua New Guinea Papua New Guinea (păp`  ə, –y and Vanuatu to Australia-based ANZ. The company also stated that it anticipates finalizing the sale of its Fiji operations to ANZ by the end of the year. The approximately $50 million purchase transaction for all three regions includes total assets of about $180 million. The sale of the operations is part of Bank of Hawaii's earlier announced strategic plan, which focuses its business on core markets, primarily Hawaii, the West Pacific and American Samoa. Pacific Century Financial Corporation (NYSE NYSE See: New York Stock Exchange : BOH) is headquartered in Honolulu, Hawaii, with total assets of approximately $11.9 billion as of September 30, 2001. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion