KUALA LUMPUR: Affin Hwang Investment Bank Bhd (Affin Hwang IB) and select key senior management in Affin Hwang Asset Management Bhd (Affin Hwang AM) have entered into a conditional deal to divest 7.59 million shares or 68.35% stake in Affin Hwang AM to CVC Capital Partners.
In a bourse filing, Affin Hwang IB, on behalf of parent company Affin Bank Bhd, said it had entered into a conditional share sale and purchase agreement with Starlight Asset Sdn Bhd, an investment holding company incorporated by funds managed by CVC Capital Partners, for the proposed divestment for a provisional cash consideration of RM1.54bil.
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