CIMB buying stockbroking business of TA Enterprise

CIMB Bhd is buying TA Enterprise Bhd's stockbroking business for around RM400mil. 

Sources said a third party, which might be a foreign company that intended to own a stake in CIMB, would first acquire the stockbroking assets of TA Enterprise for cash. CIMB would then issue new shares to the institutional investor to take over TA Enterprise's securities business.