January 11, 2018 / 9:49 AM / in 8 months

BRIEF-CIMB Group Holdings To Divest 20% Stake In CIMB-Principal Asset Management Bhd

Jan 11 (Reuters) - CIMB Group Holdings Bhd:

* TO DIVEST 20% EQUITY STAKE IN CIMB-PRINCIPAL ASSET MANAGEMENT BERHAD TO PRINCIPAL INTERNATIONAL (ASIA) LTD

* TO DIVEST 10% STAKE IN CIMB-PRINCIPAL ISLAMIC ASSET MANAGEMENT SDN. BHD. TO PRINCIPAL FINANCIAL SERVICES INC.

* AGGREGATE CONSIDERATION OF DIVESTMENTS IS 470.3 MILLION RGT

* EXPECTS TO RECOGNISE GAIN ON DISPOSAL OF ABOUT 950 MILLION RGT & COMMON EQUITY TIER 1 (“CET1”) RATIO IMPROVEMENT OF ABOUT 18 BPS Source: bit.ly/2Euu0g7 Further company coverage:

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