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CIMB-RHB-MBSB management teams warm up to merger plan - Nazir
by Cals Thu 14 Aug 2014, 01:23
| CIMB-RHB-MBSB management teams warm up to merger plan - Nazir |
| Business & Markets 2014 |
| Written by Kamarul Anwar of theedgemalaysia.com |
| Wednesday, 13 August 2014 12:31 PETALING JAYA (Aug 13): CIMB Group Holdings Bhd's outgoing group CEO Datuk Seri Nazir Razak has hinted that the bank's proposed three-way merger has been warmly received by the management teams of both targeted lenders, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB). However, at this stage, the 90-day exclusivity arrangement for negotiations is only limited to discussions among management teams of CIMB, RHB Capital and MBSB, Nazir said. "The management teams are going through details on the business aspects (of the merged entity). That's the biggest hurdle (faced in this proposal) and that's the priority. "I think it's fair to say all management teams have warmed to the idea that we can create a value-enhancing merger for all parties," Nazir said on the sidelines of the launch of CIMB bank's branch at the Jaya Shopping Centre here. Nazir said while discussions were still at early stages, he was optimistic that CIMB could come up with a proposal for consideration by the various boards and shareholders of the three lenders. |
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