May 13, 2011 / 1:29 AM / 6 years ago

Malaysia's BIMB gets offer notice for Bank Muamalat-report

KUALA LUMPUR, May 13 (Reuters) - Malaysia's BIMB Holdings has received notice from sovereign wealth fund Khazanah Nasional Bhd and conglomerate DRB-Hicom of their intention to sell Bank Muamalat to the company, state news agency Bernama reported.

A newspaper report citing unnamed sources had said in April that Khazanah Nasional would start talks to sell its 30 percent stake in Bank Muamalat to Islamic financial group BIMB Holdings. [ID:nL3E7FL03G]

Financial-to-autos group DRB-Hicom owns the remaining 70 percent in Bank Muamalat.

"They want to sell and have identified us as a potential buyer," BIMB chief executive officer Johan Abdullah was quoted as saying by Bernama.

He said the matter would be discussed at a board meeting on May 25 and if the board was in favour of the acquisition, BIMB would seek the central bank's approval to start negotiations.

Click on [ID:nISLAMIC] for more Islamic finance stories and for a speed guide Reporting by Liau Y-Sing; Editing by Matt Driskill

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