Wednesday, April 6, 2011

#Update*RHB Capital yet to get official word from ADCB on stake sale

KUALA LUMPUR: RHB CAPITAL BHD [] (RHBCap) has not been officially informed by Abu Dhabi Commercial Bank (ADCB), which owns a 25% stake, of the latter's intention to exit the banking group.

RHBCap director Tan Sri Azlan Zainol said on Wednesday, April 6 that ADCB has not written to RHBCap on its plan to exit, and hence, RHBCap was unclear on the status of that development.

"We do not know, we will wait and see," he told reporters in the sideline after RHBCap annual general meeting.

ADCB came into RHBCap as strategic shareholder in 2008 at RM7.20 per share.

Azlan also said RHBCap was open to merger talks 'anytime' but it is currently not involved in discussions with AMMB HOLDINGS BHD [].

However, the banking group was ready for talks with any interested parties, he said.

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