Taichung Commercial Bank in Taipei, Taiwan, has called off the deal to buy American Continental Bank in California a little over a year after announcing the nearly $82.1 million deal, the companies said Friday.
In a filing with the Taiwan Stock Exchange Corp., Taichung Commercial said both parties agreed not to go ahead after considering the rapidly changing global political and economic conditions, Taipei Times reported.
Taichung Commercial has agreed to pay American Continental $500,000 for the terminated deal, the statement said.
