CIMB - OTHERS PROPOSED MERGER OF THE BUSINESSES AND UNDERTAKINGS OF RHB CAPITAL BERHAD ("RHB CAPITAL"), CIMB GROUP HOLDINGS BERHAD ("CIMB GROUP") AND MALAYSIA BUILDING SOCIETY BERHAD ("MBSB") AND THE CREATION OF AN ENLARGED ISLAMIC BANKING FRANCHISE ("PROPOSED MERGER")
| Company Name | CIMB GROUP HOLDINGS BERHAD |
| Stock Name | CIMB |
| Date Announced | 14 Jan 2015 |
| Category | General Announcement |
| Reference No | CG-150114-61597 |
| Type | Announcement |
| Subject | OTHERS |
| Description | PROPOSED MERGER OF THE BUSINESSES AND UNDERTAKINGS OF RHB CAPITAL BERHAD ("RHB CAPITAL"), CIMB GROUP HOLDINGS BERHAD ("CIMB GROUP") AND MALAYSIA BUILDING SOCIETY BERHAD ("MBSB") AND THE CREATION OF AN ENLARGED ISLAMIC BANKING FRANCHISE ("PROPOSED MERGER") |
We refer to the announcements dated 10 July 2014 and 9 October 2014 in relation to the Proposed Merger (“Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcements. CIMB Group wishes to announce that after further deliberation, the Board of Directors of CIMB Group (“Board”) have arrived at a decision to abort the Proposed Merger in light of current economic conditions. CIMB Group and RHB Capital, as well as their relevant subsidiaries, have withdrawn their joint application to BNM to seek approval from BNM and/or the MoF through BNM for, amongst others, the Proposed Merger. With that, the Exclusivity Period pursuant to the exclusivity agreement between CIMB Group, RHB Capital and MBSB dated 10 July 2014 has expired. The Board would like to place on record its most sincere appreciation to RHB Capital and MBSB's Board of Directors and management for agreeing to engage and participate in discussions with CIMB Group. Attached is the press release in relation to the above. This announcement is dated 14 January 2015.
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MBSB - OTHERS PROPOSED MERGER OF THE BUSINESSES AND UNDERTAKINGS OF MALAYSIA BUILDING SOCIETY BERHAD (“MBSB”), CIMB GROUP HOLDINGS BERHAD (“CIMB GROUP”) AND RHB CAPITAL BERHAD (“RHB CAPITAL”), AND THE CREATION OF AN ENLARGED ISLAMIC BANKING FRANCHISE (“PROPOSED MERGER”)
| Company Name | MALAYSIA BUILDING SOCIETY BERHAD |
| Stock Name | MBSB |
| Date Announced | 14 Jan 2015 |
| Category | General Announcement |
| Reference No | MB-150114-66435 |
| Type | Announcement |
| Subject | OTHERS |
| Description | PROPOSED MERGER OF THE BUSINESSES AND UNDERTAKINGS OF MALAYSIA BUILDING SOCIETY BERHAD (“MBSB”), CIMB GROUP HOLDINGS BERHAD (“CIMB GROUP”) AND RHB CAPITAL BERHAD (“RHB CAPITAL”), AND THE CREATION OF AN ENLARGED ISLAMIC BANKING FRANCHISE (“PROPOSED MERGER”) |
We refer to the earlier announcements in relation to the Proposed Merger (“Announcements”). Unless otherwise stated, the definitions used herein shall have the same meanings as set out in the Announcements. On behalf of MBSB, AmInvestment Bank Berhad wishes to announce that MBSB has been informed by CIMB Group that CIMB Group has decided to abort the Proposed Merger. Accordingly, the Board has decided to cease all discussions on the Proposed Merger. CIMB Group has also informed that CIMB Group and RHB Capital’s joint application to Bank Negara Malaysia for the approval of the Proposed Merger has been withdrawn. With that, the exclusivity period pursuant to the exclusivity agreement between CIMB Group, RHB Capital and MBSB dated 10 July 2014 expires with immediate effect. Attached is the press release in relation to the above. This announcement is dated 14 January 2015. | |
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