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CIMB cuts stake in asset management firms


PETALING JAYA: CIMB Group Holdings Bhd has proposed to realise part of its investment in its fund management companies in a deal worth RM470.29mil.

In addition to monetising part of its investment in the joint venture (JV), which it has with Principal Financial Group Inc, a revaluation of its remaining stakes in the asset management business will see the second-largest banking group recognise a total gain of RM950mil.

Banking , CIMB , Principal

   

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