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NewsSan Miguel seals deal to sell control of banking unit to CIMB
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San Miguel seals deal to sell control of banking unit to CIMB
by Cals Tue 11 Jun 2013, 18:14
Published: Tuesday June 11, 2013 MYT 4:25:00 PM
San Miguel seals deal to sell control of banking unit to CIMB
MANILA: Malaysia's CIMB Group Holdings Bhd, has decided to pursue a deal worth nearly US$300mil to buy a 58% stake in San Miguel Corp's banking unit, the president of San Miguel said on Tuesday.
"We reached a deal last night. Closing is within 30 days. Same terms," Ramon Ang told reporters on the sidelines of San Miguel's stockholders' meeting.
Closing the deal involving San Miguel's unlisted Bank of Commerce had hit a snag due to minor issues related to the bank's IT infrastructure and property holdings. - Reuters
San Miguel seals deal to sell control of banking unit to CIMB
MANILA: Malaysia's CIMB Group Holdings Bhd, has decided to pursue a deal worth nearly US$300mil to buy a 58% stake in San Miguel Corp's banking unit, the president of San Miguel said on Tuesday.
"We reached a deal last night. Closing is within 30 days. Same terms," Ramon Ang told reporters on the sidelines of San Miguel's stockholders' meeting.
Closing the deal involving San Miguel's unlisted Bank of Commerce had hit a snag due to minor issues related to the bank's IT infrastructure and property holdings. - Reuters
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