bidding-war-over-malaysias-rhb

Bidding war over Malaysia's RHB

Kuwait Finance House offers to buy a controlling stake in Rashid Hussain Bhd.
Middle East consortium, Kuwait Finance House, has bid M$2.16 billion $618 million for a stake in the debt-ridden Rashid Hussain Bhd RHB, in an effort to create the worldÆs largest Islamic bank. The offer was conditionally accepted last Wednesday.

But this is by no means a done deal. Later on Wednesday afternoon, Malaysia's EON Capital Bhd launched its own takeover bid for RHB.

HereÆs the flow-chart of the offer so far Kuwait Finance House has offered through its Malaysian subsidiary KFHMB to buy Utama Banking GroupÆs 32% stake in RHB, which is the parent of MalaysiaÆs fourth-largest lender, RHB Capital. Utama is currently the single-largest shareholder in RHB, but just barely...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222