Malayan Banking Berhad ("Maybank" or "the Company") Proposed acquisition by Maybank of up to 20% of the issued and paid-up share capital of MCB Bank Limited ("MCB") for a purchase consideration to be wholly satisfied in cash ("Proposed Acquisition")

May 29, 2008 Back
Type Announcement
Subject Malayan Banking Berhad (“Maybank” or “the Company”)
Proposed acquisition by Maybank of up to 20% of the issued and paid-up share capital of MCB Bank Limited (“MCB”) for a purchase consideration to be wholly satisfied in cash (“Proposed Acquisition”)
Contents We refer to the announcements dated 5 May 2008 and 22 May 2008 in relation to the Proposed Acquisition.

On behalf of the Company, Aseambankers Malaysia Berhad is pleased to announce that the Company has received the approval of the State Bank of Pakistan ("SBP") for the Proposed Acquisition.

Maybank is still awaiting for the approval from the SBP for remittance of the full value of divestment proceeds in case Maybank proposes to sell shares of MCB in future.

This announcement is dated 29 May 2008.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 29 May 2008  
Category General Announcement
Reference No CU-080528-67995