Malaysia Building Society Bhd proposed a cash call to raise up to RM2bil.
KUALA LUMPUR: Malaysia Building Society Bhd
(MBSB) has obtained the central bank’s approval to hold merger discussions with the shareholders of Bank Muamalat Malaysia Bhd.
MBSB said on Thursday it had received a letter from Bank Negara Malaysia (BNM) which states “BNM has no objection in principle for MBSB to commence negotiations with the existing shareholders of Bank Muamalat Malaysia Berhad namely DRB-Hicom and Khazanah Nasional, for a proposed merger of MBSB and Bank Muamalat”
It said BNM requires that the negotiations must be completed within three months from the date of BNM's letter dated Sept 30.
Citigroup Global Markets Ltd and AmInvestment Bank Bhd will act as advisors for MBSB in the proposed merger.
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