KUALA LUMPUR, June 28 (Bernama) -- BIMB Holdings Bhd has received
consent from Bank Negara to commence negotiations with Dubai Financial
Group LLC (DFG) and Lembaga Tabung Haji for its proposed acquisition of
DFG's stake in Bank Islam Malaysia Bhd.
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=959604
Published: Jun 30, 2013
BIMB said the central bank via its letter yesterday said the parties
must ensure that negotiations are completed within the extended deadline
of July 31, 2013.
"Bank Negara has no objection to the extension of time, following which
a formal approval for the proposed acquisition as mutually agreed among
the parties, shall be sought," it said in an announcement to Bursa
Malaysia.
In April, BIMB announced the central bank's consent for an extension of time until June 30, 2013 to complete negotiations.
BIMB owns 51 per cent of Bank Islam Malaysia, while DFG has a 30.5 per
cent stake and Lembaga Tabung Haji the remaining 18.5 per cent.
-- BERNAMA
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