RHBCap seeks BNM nod for merger talks with OSK

RHB Capital Bhd has applied to Bank Negara Malaysia for approval to start merger talks with the OSK Group.

Read more: RHBCap seeks BNM nod for merger talks with OSK http://www.btimes.com.my/articles/orhb/Article/#ixzz1ZiTIWZ4C

Kuala Lumpur: RHB Capital Bhd has applied to Bank Negara Malaysia for approval to start merger talks with the OSK Group. The bank said talks will involve OSK Investment Bank Bhd, OSK Holdings Bhd and major shareholders of OSK Holdings Bhd. The move comes after both Malayan Banking Bhd and CIMB Group Bhd dropped plans to buy RHBCap. It was widely speculated that talks were aborted after Abu Dhabi Commercial Bank sold its 25 per cent stake in RHBCap for RM10.80 a share to sister company Aabar Investment. The price was an 18 per cent premium to the market value at the time.