Aabar seeks hefty premium for its minority stake in Malaysia bank | GulfNews.com

Aabar seeks hefty premium for its minority stake in Malaysia bank | GulfNews.com:



"Aabar Investments is demanding a hefty premium for its minority stake in Malaysia’s No. 4 bank, sources say, as the Abu Dhabi state fund leverages on its amplified role in a $22 billion merger that will create Southeast Asia’s fourth-largest lender.



When the Malaysian stock exchange last week barred the Employees Provident Fund (EPF) from voting on a plan to merge CIMB Group Holdings, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) due to the state pension fund’s majority ownership in the three lenders, the spotlight was suddenly thrown onto secondary shareholders.



Aabar, which owns 21 per cent of RHB, wants its stake in the bank to be valued at 11-12 ringgit per share, sources familiar with the deal said. That would be as much as 11 per cent more than what Aabar paid three years ago for its RHB holding and above the value placed on RHB of 10.03 ringgit per share in the proposed merger."



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