Singapore Tycoon Wee Cho Yaw’s UOB To Buy Citi’s Southeast Asia Consumer Business For $3.6 Billion

United Overseas Bank—controlled by billionaire Wee Cho Yaw—has agreed to acquire Citigroup’s consumer banking business across Indonesia, Malaysia, Thailand and Vietnam as the Singapore lender accelerates expansion across Southeast Asia. The purchase consideration is about S$4.9 billion ($3.6 billion), which includes a premium of S$915 million on top of the…