RHB Cap to acquire CIMB Group, while offer for MBSB is RM2.82 per share

PETALING JAYA: As speculated, the trio of CIMB Group Holdings Bhd, RHB Capital Bhd (RHB Cap) and Malaysia Building Society Bhd (MBSB) have unveiled a proposed merger structure that is quite unorthodox, with the smaller banking group taking over a bigger entity.

All three banks announced to Bursa Malaysia that the merger will see the CIMB Group, which is the second-largest banking group in Malaysia, dispose all its assets and liabilities of RHB Cap via a share swap at an exchange ratio of one RHB Cap share for 1.38 CIMB Group shares.