Complex sentence: Arab Banking Corporation paid HK $359.72 million to acquire the bank from Fung and changed the bank's name to International Bank of Asia (Traditional Chinese: 港基國際銀行, IBA).
Split into simpler sentences: Arab Banking Corporation paid HK $359.72 million to acquire the bank from Fung. Changed the name to International Bank of Asia (Traditional Chinese: 港基國際銀行, IBA).