Malaysia’s No.2 lender CIMB Group Holdings Bhd is set to buy Royal Bank of Scotland’s (RBS) Australian equity operations for $50 million, the Edge reported on Friday, citing a source familiar with the matter.
“The figure is less than $100 million. From what I understand, it should be $50 million,” the business daily quoted the source as saying.
An official from CIMB told Reuters on Friday that the Australian deal was not confirmed internally.
Two sources with direct knowledge of the matter told Reuters on Thursday that CIMB was in talks to buy RBS’ Asian equities and investment banking units.
The Financial Times reported on February 8 that CIMB and China International Capital Corp. are the remaining bidders for RBS’ Asian equities, mergers and acquisitions and research businesses.