Azman to sell down

The proposed merger of Malaysia''s AMMB and and Eon will see a selldown by the controlling shareholder.

Government-instigated bank mergers have long been a feature of post-crisis Malaysia. But in what is being described as the first 'commercially-driven' bank merger since 1998, AMMB and EON are close to finalising details of a deal that will create the country's third largest bank. And in an era when consumer lending is king, the bank will have the largest retail loan portfolio in Malaysia.

Full details of the deal will be released late Friday, but one aspect of the deal will please the government - even if it has not instigated this particular deal. That is the fact that the controlling shareholder of AMMB, Tan Sri Datuk Azman Hashim will sell down...

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