Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Philippine conglomerate San Miguel Corp is close to a deal to sell 60% of its banking unit to Malaysia's second largest lender CIMB Group Holdings (CIMB MK, Hold, TP: RM7.00), with the two agreeing on a final price, the chairman of Bank of Commerce said. The deal, is expected to be finalised this month, will provide San Miguel with fresh funds to close its US$610m (RM1.84bn) purchase of ExxonMobil Corp's Malaysian assets, or to invest in new acquisitions such as flag carrier Philippine Airlines Inc. (Financial Daily)
Company Name: CIMB GROUP HOLDINGS BERHAD
| Research House: ECMLIBRA | Price Call: BUY | Target Price: 7.00 |
Philippine conglomerate San Miguel Corp is close to a deal to sell 60% of its banking unit to Malaysia's second largest lender CIMB Group Holdings (CIMB MK, Hold, TP: RM7.00), with the two agreeing on a final price, the chairman of Bank of Commerce said. The deal, is expected to be finalised this month, will provide San Miguel with fresh funds to close its US$610m (RM1.84bn) purchase of ExxonMobil Corp's Malaysian assets, or to invest in new acquisitions such as flag carrier Philippine Airlines Inc. (Financial Daily)
Source: ECM Newz Bits 07 March 2012
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