Affin to Acquire Hwang-DBS Bank Assets

January 27, 2014

On January 22, 2014, Businessweek reported that Affin Holdings Bhd., a Malaysian banking group, will acquire most of Hwang-DBS (Malaysia) Bhd.’s investment banking  and asset management assets for 1.36 billion ringgit ($409 million).

On January 22, 2014, Businessweek reported that Affin Holdings Bhd. will acquire most of Hwang-DBS (Malaysia) Bhd.’s investment banking and asset management assets for 1.36 billion ringgit ($409 million). Affin is a Malaysian banking group controlled by the country’s armed-forces fund. Affin will acquire the assets in cash, and will later raise as much as 1.25 billion to finance the acquisition. The terms of the transaction were not disclosed.

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Investment Manager M&A, Transactions