Acquisition of Philippine National Bank's 39.83% Equity in Maybank Philippines, Inc.

Jun 30, 2000 Back
Type Announcement
Subject Acquisition of Philippine National Bank's 39.83% Equity in Maybank Philippines, Inc.

Contents :

Maybank wishes to announce that its Board of Directors has approved the acquisition of an additional 39.83% of the equity in its subsidiary, Maybank Philippines, Inc (MPI) from Philippine National Bank (PNB) at a call option price of P1.413 billion subject to the approvals from the relevant authorities in Malaysia and Philippine.


With this proposed additional 39.83%, Maybank would own 99.59% equity percentage in MPI.

This proposed acquisition is not expected to have any material impact on the performance of Maybank.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 30 Jun 2000  
Category General Announcement
Reference No MB-000630-81968