OCBC to sell Robinson

The MAS has mandated that non-core assets must be sold and OCBC is obliging.

In response to a longstanding MAS diktat that Singapore's banks must dispose of their non-core holdings, OCBC is to sell its 38.4% stake in listed retailer, Robinson Co. The stake is held jointly with its insurance affiliate, Great Eastern and represents the controlling stake in the retailer which was established in 1858.

Meanwhile the board of Robinson Co have appointed ING to advise on the sale of the whole company, a move which may see the company delisted....

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