|Description||BANK NEGARA MALAYSIA ("BNM") APPROVAL TO COMMENCE NEGOTIATIONS AND EXCLUSIVITY AGREEMENT BETWEEN MALAYSIA BUILDING SOCIETY BERHAD (“MBSB”), CIMB GROUP HOLDINGS BERHAD (“CIMB GROUP”) AND RHB CAPITAL BERHAD (“RHB CAPITAL”)|
We wish to announce that BNM has, via its letter dated 10 July 2014, stated that it has no objection for MBSB, to commence negotiations with (i) CIMB Group and/or its nominees; and (ii) RHB Capital and/or its nominees for a proposed merger of their businesses and undertakings and the creation of an enlarged Islamic banking franchise (“Proposed Merger”). The approval to commence negotiations is valid for a period of 6 months from the date of BNM’s letter.
All consideration used to effect the Proposed Merger shall be referenced to the respective closing market price of MBSB, CIMB Group and RHB Capital as at 9 July 2014.
This announcement is dated 10 July 2014.
|Company Name||MALAYSIA BUILDING SOCIETY BERHAD|
|Date Announced||10 Jul 2014|