bidding-war-over-malaysias-rhb

Bidding war over Malaysia's RHB

Kuwait Finance House offers to buy a controlling stake in Rashid Hussain Bhd.
February 07, 2007
Middle East consortium, Kuwait Finance House, has bid M$2.16 billion $618 million for a stake in the debt-ridden Rashid Hussain Bhd RHB, in an effort to create the worldÆs largest Islamic bank. The offer was conditionally accepted last Wednesday.

But this is by no means a done deal. Later on Wednesday afternoon, Malaysia's EON Capital Bhd launched its own takeover bid for RHB.

HereÆs the flow-chart of the offer so far Kuwait Finance House has offered through its Malaysian subsidiary KFHMB to buy Utama Banking GroupÆs 32% stake in RHB, which is the parent of MalaysiaÆs fourth-largest lender, RHB Capital. Utama is currently the single-largest shareholder in RHB, but just barely...
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