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The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description |
AFFIN BANK BERHAD ("ABB" OR "BANK") PROPOSED DIVESTMENT OF 7,000,000 ORDINARY SHARES IN AFFIN HWANG ASSET MANAGEMENT BERHAD ("AHAM"), REPRESENTING 63% OF THE EQUITY INTEREST IN AHAM, BY AFFIN HWANG INVESTMENT BANK BERHAD ("AFFIN HWANG IB"), A WHOLLY-OWNED SUBSIDIARY OF ABB ("PROPOSED DIVESTMENT") |
|
On behalf of the Board of Directors of ABB, Affin Hwang IB wishes to announce that we, selected key senior management of AHAM and Starlight Asset Sdn Bhd, an investment holding company incorporated by funds managed by CVC Capital Partners, had on 28 January 2022 entered into a conditional share sale and purchase agreement (“SPA”) for the proposed divestment of 7,594,338 ordinary shares in AHAM, representing approximately 68.35% of the equity interest in AHAM, for a provisional cash consideration of RM1,537.9 million, subject to price adjustments as well as the terms and conditions as set out in the SPA. Please refer to the attachment for further details on the Proposed Divestment.
This announcement is dated 28 January 2022. |
|
Please refer attachment below.
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 28 Jan 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-27012022-00009 |
Attachments
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
