CIMB Group: Buys RBS Asia-Pacific Cash Equities, Investment Banking Business For GBP173.9 Million
02 Abril 2012 - 4:03AM
Noticias Dow Jones
CIMB Group Holdings Bhd (1023.KU), Malaysia's second largest
bank by assets, said Monday it has acquired most of Royal Bank of
Scotland Group PLC's (RBS.LN) cash equities and associated
investment banking businesses in Asia Pacific for GBP173.9
million.
The acquisition will give CIMB Group new presence in Taiwan and
Australia as well as enlarged operations in Hong Kong, India and
China, CIMB Group said in a statement. The effective price to net
tangible asset ratio of the transaction is about 0.98 time, it
added.
"This is an excellent opportunity to complete the build-up of
our capabilities in Asia Pacific markets and to do it quicker and
less expensive than if we grew organically," said CIMB Group Chief
Executive Nazir Razak.
By Jason Ng, Dow Jones Newswires; +603-2026-1233;
jason.ng@dowjones.com