EON Capital still undecided on Hong Leong's offer

EONCap considers bids from other banks as it is studying Hong Leong's $1.44bln cash offer.

Bank Negara Malaysia on 6 January had approved Hong Leong Bank's proposal to begin the negotiations on the acquisition, which included the sale of EONCap's assets and liabilities, including the equity interests.

These also involve its subsidiaries comprising EON Bank Bhd, EONCap Islamic Bank Bhd and MIMB Investment Bank Bhd.

"The board is evaluating the offer and other potential offers to make sure that the arrangement and final deal will be the best for the bank as well as for the shareholders," EONCap CEO Michael Lor said in a report in Bernama.

EONCap has seven days to reply to Hong Leong Bank's offer.
 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.