Friday, February 16, 2007

Bids for RHB & RHB Capital delayed

Bidders for control over Rashid Hussain Bhd (RHB) and RHB Capital have agreed to a delay to give them more time to review their offers. Kuwait Finance House, which offered to purchase the 32% stake in RHB held by Utama Banking Group (UBG), agreed to wait until February 23rd to finalize any agreement to purchase the stake. UBG told the Financial Times that it was not considering a counter-offer from Primus Pacific Partners for its shares of RHB. EON Capital has also delayed its deadline for deciding whether to buy RHB Capital until March 2.

Aseambankers downgraded its rating on RHB Capital shares to "Hold".

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