03.02.2016 - MBSB-Bank Muamalat merger talks aborted
Non-bank financial provider Malaysia Building Society Bhd (MBSB) has failed to strike a merger with Bank Muamalat Malaysia Bhd, its second botched merger attempt in recent times. Bank Muamalat is 70%-owned by DRB-Hicom, while Malaysia’s sovereign wealth fund Khazanah holds the remaining 30% interest. MBSB said that it and the parties involved, namely, DRB-Hicom Bhd and Khazanah Nasional Bhd, have decided to end negotiations for the proposed merger to form the country’s biggest standalone Islamic bank after having failed to agree on the terms...............................................Full Article: Source
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