maybanks-27-billion-bii-deal-stumbles-again

MaybankÆs $2.7 billion BII deal stumbles again

MalaysiaÆs central bank tells the countryÆs biggest lender to cut the offer price or cancel its bid for Bank Internasional Indonesia.
Maybank has been told by Bank Negara Malaysia, the countryÆs central bank, to reduce the price of its $2.7 billion bid for Bank Internasional Indonesia BII.

Maybank said in a statement that Bank Negara had told it ôto obtain a new agreement on a purchase price that will not result in substantial impairment under international reporting standards that would impact the fundamental soundness of Maybankö.

Maybank, MalaysiaÆs largest bank by assets, had been due to complete its purchase of a 55.5% stake in BII for $1.5 billion last Friday, and follow with a tender offer for the rest of the shares. The acquisition together with the tender offer if fully accepted would have resulted...
¬ 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 (2-10 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 (2-10 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