Malayan Banking Berhad ("Maybank")Proposed transfer by Maybank of 165,321,478 ordinary shares of RM1.00 each in Mayban Fortis Holdings Berhad ("Mayban Fortis Shares") representing its direct equity interest of 69.05% in Mayban Fortis Holdings Berhad ("Mayban Fortis") to Etiqa International Holdings Sdn Bhd (formerly known as Pelangi Amanmaz Sdn Bhd) ("Etiqa International") for a purchase consideration of RM359,340,912 to be satisfied by an amount owing by Etiqa International to Maybank ("Proposed Transfer")

Apr 05, 2010 Back
Type Announcement
Subject Malayan Banking Berhad (“Maybank”)
Proposed transfer by Maybank of 165,321,478 ordinary shares of RM1.00 each in Mayban Fortis Holdings Berhad (“Mayban Fortis Shares”) representing its direct equity interest of 69.05% in Mayban Fortis Holdings Berhad (“Mayban Fortis”) to Etiqa International Holdings Sdn Bhd (formerly known as Pelangi Amanmaz Sdn Bhd) (“Etiqa International”) for a purchase consideration of RM359,340,912 to be satisfied by an amount owing by Etiqa International to Maybank (“Proposed Transfer”)
Contents 1. INTRODUCTION

On behalf of the Board of Directors (“Board”) of Maybank, Maybank Investment Bank Berhad (“Maybank IB”) is pleased to announce that Maybank has on even date entered into a sale and purchase agreement to transfer 165,321,478 Mayban Fortis Shares representing its direct equity interest of 69.05% in Mayban Fortis to Etiqa International for a purchase consideration of RM359,340,912 to be satisfied by an amount owing by Etiqa International to Maybank (“SPA”). After the completion of the Proposed Transfer, Etiqa International will serve as the investment holding company for Maybank’s insurance, takaful and asset management businesses.

Kindly refer to the attachment for the details of the Proposed Transfer.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 5 Apr 2010  
Category General Announcement
Reference No MI-100405-63681

Attachments

  1. MAYBANK050410.pdf (Size: 88,618 bytes)