CIMB completes shareholding sale to CGS for RM780mil

PETALING JAYA: CIMB Group Holdings Bhd has completed the sale of its remaining 25.01% and 25% shareholding in CGS-CIMB Securities International Pte Ltd (CSI) and CGS-CIMB Holdings Sdn Bhd (CCH) respectively to CGS International Holdings Ltd (formerly China Galaxy International Financial Holdings Ltd) (CGI) for RM780mil in total.

This is 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 (JV) as per the terms of the original partnership agreement.