The CIMB banking group will emerge as Malaysia's first universal banking entity with its investment banking business being integrated with that of Commerce Asset-Holding Bhd's (CAHB) commercial banking arm, Bumiputra-Commerce Bank Bhd (BCB).
Under the RM5.3bil deal, CIMB's investment banking business will be taken private and its shareholders given an option to either receive RM5.50 a share in cash or new CAHB shares valued at RM4.80 each.