Maybank and CIMB to bid for RHB
Malaysia’s two largest banks have each announced interest in pursuing a merger with the 5th largest bank in the country, RHB Capital. The potential mergers come after Abu Dhabi Commercial Bank put its 25% stake in the company up for sale. Both Malayan Banking Bhd and CIMB Group have secured the central bank of Malaysia Bank Negara’s approval to continue acquisition talks. The talks come on the heels of a merger between Hong Leong Bank Bhd and EON Capital to produce the 4th largest bank in Malaysia.
If either interested bank acquires RHB Capital, it will probably be after a lengthy bidding war, as each company is interested in gaining size and market share. Negotiations have yet to commence, but Bank Negara’s approval is only valid for 3 months. Interestingly, both parties recently indicated they had no interest in acquiring RHB.
Malaysia’s two largest banks have each announced interest in pursuing a merger with the 5th largest bank in the country, RHB Capital. The potential mergers come after Abu Dhabi Commercial Bank put its 25% stake in the company up for sale. Both Malayan Banking Bhd and CIMB Group have secured the central bank of Malaysia Bank Negara’s approval to continue acquisition talks. The talks come on the heels of a merger between Hong Leong Bank Bhd and EON Capital to produce the 4th largest bank in Malaysia. If either interested bank acquires RHB Capital, it will probably be after a...
Malaysia’s two largest banks have each announced interest in pursuing a merger with the 5th largest bank in the country, RHB Capital. The potential mergers come after Abu Dhabi Commercial Bank put its 25% stake in the company up for sale. Both Malayan Banking Bhd and CIMB Group have secured the central bank of Malaysia Bank Negara’s approval to continue acquisition talks. The talks come on the heels of a merger between Hong Leong Bank Bhd and EON Capital to produce the 4th largest bank in Malaysia.
If either interested bank acquires RHB Capital, it will probably be after a lengthy bidding war, as each company is interested in gaining size and market share. Negotiations have yet to commence, but Bank Negara’s approval is only valid for 3 months. Interestingly, both parties recently indicated they had no interest in acquiring RHB.
