CIMB scraps Philippine bank acquisition

The Malaysian bank is left with a gap in the Philippines after failing to agree on the final terms with San Miguel and the other sellers. CEO suggests it will look for other M&A opportunities.
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Nazir Razak: Looking for other opportunities
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<div style="text-align: left;"> Nazir Razak: Looking for other opportunities </div>

CIMB’s acquisition of a controlling stake in Bank of Commerce from San Miguel Corp and various minority shareholders has been scrapped after the parties failed to reach an agreement on new terms, according to a statement issued by CIMB.

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