CIMB completes divestment of residual stake in CGS-CIMB

KUALA LUMPUR: CIMB Group Holdings Bhd has via CIMB Group Sdn Bhd completed the sale of its 25.01% and 25% shareholding in CGS-CIMB Securities International Pte Ltd (CSI) and CGS-CIMB Holdings Sdn Bhd (CCH) to CGS International Holdings Ltd (CGI).

In a statement, CIMB said this was following the final call option exercised by CGI to acquire the remaining shareholding of CIMB Group Sdn Bhd’s stake in the two parties’ stockbroking joint venture, as per the terms of the original partnership agreement.