Shares of CIMB Group, MBSB & RHB Capital to be suspended Thursday
Bernama
October 9, 2014 08:02 MYT
October 9, 2014 08:02 MYT
The three parties entered into a 90-day exclusivity agreement to negotiate and finalise pricing, structure and other relevant terms and conditions for a proposed merger.
Shares of CIMB Group Holdings Bhd (CIMB Group), Malaysia Building Society Bhd (MBSB) and RHB Capital Bhd will be suspended on Thursday pending a material announcement.
In a filing to Bursa, MBSB and CIMB Group said Bursa Malaysia has approved the companies' request for suspension.
In July, the three parties announced approval from Bank Negara to commence discussions for the merger of the businesses of RHB and CIMB Group and the creation of an enlarged banking franchise with MBSB.
Following this, the three parties entered into a 90-day exclusivity agreement to negotiate and finalise pricing, structure and other relevant terms and conditions for a proposed merger of the three parties and the creation of a mega Islamic bank.