January 11, 2018 / 12:18 PM / 5 months ago

BRIEF-Principal And CIMB Group To Realign Ownership Stakes In JV Across Southeast Asia

Jan 11 (Reuters) - Principal Financial Group Inc:

* PRINCIPAL AND CIMB GROUP TO REALIGN OWNERSHIP STAKES IN JOINT VENTURES ACROSS SOUTHEAST ASIA

* PRINCIPAL FINANCIAL - ONCE COMPLETE, CO WILL INCREASE ITS OWNERSHIP STAKE TO 60 PERCENT WITH CIMB RETAINING 40 PERCENT OWNERSHIP IN ENTITIES

* PRINCIPAL FINANCIAL - CO, CIMB SIGNED AGREEMENTS FOR CO TO GAIN ADDITIONAL OWNERSHIP OF CIMB-CO ASSET MANAGEMENT ,CIMB-CO ISLAMIC ASSET MANAGEMENT

* PRINCIPAL FINANCIAL GROUP INC - TRANSACTION IS EXPECTED TO BE COMPLETED IN Q2 OF 2018

* PRINCIPAL FINANCIAL GROUP INC - PRINCIPAL WILL PAY CIMB UP TO ABOUT US$117 MILLION FOR ADDITIONAL OWNERSHIP STAKE

* PRINCIPAL FINANCIAL GROUP INC - JOINT VENTURES WILL CONTINUE TO BE CO-MANAGED BY BOTH COMPANIES Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below