AMMB to talk with Fortis on stake sale

Article Abstract:

AMMB Holdings Bhd., Malaysia's seventh-biggest financial groups with assets of around 47 billion ringgit, will talk to Belgian-Dutch banking and insurance group Fortis, who is interested to buy a stake in the firm. This comes after Tan Sri Azman Hashim, AMMB's main shareholder, has obtained approval from Malaysia's central bank to proceed with the negotiations. AMMB is selling a stake to raise funds to repay debts incurred by Tan Sri Azman's listed flagship firm, Arab-Malaysian Corp. Bhd., which controls 43% of AMMB.

Comment:

Will conduct acquisition talk with AMMB Holdings

Asset sales & divestitures, Netherlands, Foreign operations, Insurance, Insurance Carriers and Related Activities, Malaysia, AMMB Holdings Bhd., Fortis AMEV N.V.

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Court lifts injunction on KBC merger

Article Abstract:

Kredietbank NV's union with CERA Bank can now proceed with the lifting of the court injunction that temporarily halted the merger. Kredietbank, a subsidiary of Almanij NV of Antwerp, Belgium, was able to convince an appellate court that there is no harm to the interest of the group that filed the injunction if the deal is allowed to proceed. The opposers of the merger, about 200 investors of CERA, a cooperative firm, contend that the deal that formed KBC Bank-Insurance Holding NV, was discriminatory against them.

Comment:

Its union with CERA Bank can now proceed with the lifting of the court njunction that temporarily halted the merger

Legal issues & crime, Belgium, Kredietbank N.V., CERA Bank

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