Disposal Of 51,171,000 Ordinary Shares Of RM1.00 Each In Mayban Assurance Berhad ("MAB") and 3,430,000 Ordinary Shares Of RM1.00 Each In Mayban Life Assurance Berhad ("MLA") to Fortis International N.V. ("Fortis") ("Disposal")- Disposal of 2,764,054 Ordinary Shares of RM1.00 each in Mayban General Assurance Berhad ("MGAB") to Fortis ("Sale of Dividend Shares")

Jun 28, 2001 Back
Type Announcement
Subject MALAYAN BANKING BERHAD ("MAYBANK")
- Disposal Of 51,171,000 Ordinary Shares Of RM1.00 Each In Mayban Assurance Berhad ("MAB") and 3,430,000 Ordinary Shares Of RM1.00 Each In Mayban Life Assurance Berhad ("MLA") to Fortis International N.V. ("Fortis") ("Disposal")
- Disposal of 2,764,054 Ordinary Shares of RM1.00 each in Mayban General Assurance Berhad ("MGAB") to Fortis ("Sale of Dividend Shares")

Contents :

Reference is made to the announcement released on 8 February 2001.

Aseambankers Malaysia Berhad, on behalf of Maybank is pleased to announce that the Disposal has been completed on 28 June 2001. Maybank had on the same day entered into an Agreement for Sale and Purchase of Shares in MGAB with Fortis for the disposal of 2,764,054 MGAB shares arising from a dividend in specie declared by MAB ("Sale of Dividend Shares").

The total purchase consideration for the Disposal and Sale of Dividend Shares is RM343,883,370 after taking into account all the required adjustments. Pursuant to the completion of the Disposal and Sale of Dividend Shares, Fortis will hold 30% direct interest in MAB and 30% effective equity interest in MGAB and MLA. Subsequently, MAB will also be renamed Mayban Fortis Holdings Berhad.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 28 Jun 2001  
Category General Announcement
Reference No CU-010627-41914