CIMB Group Holdings Berhad (CIMBGH or the Company) is pleased to announce that CIMB Real Estate Sdn Bhd (CIMBRE), a wholly-owned indirect subsidiary of the Company, has, as of today, completed a conditional Subscription Agreement with Lot A Sentral Sdn Bhd (LASSB) for the subscription of new shares in LASSB, and a conditional Share Sale Agreement with Mapletree Dextra Pte Ltd and CMREF 1 Sdn Bhd (CMREF1) for the acquisition of existing shares in LASSB, for a combined cash consideration of approximately RM646 million, subject to post-closing adjustments. Upon completion of the Transaction, LASSB has become a wholly-owned subsidiary of CIMBRE.
LASSB is a special-purpose company incorporated to own and manage the 40-storey commercial building called Menara CIMB. Located in the prime location of Kuala Lumpur Sentral, Menara CIMB is the new headquarters for CIMBGH and its subsidiaries.
The Transaction will not have any material effect on CIMBGHs consolidated net assets and earnings and will not have any effect on CIMBGHs share capital and substantial shareholders shareholdings.
None of the Directors and major shareholders of CIMBGH and/or any persons connected with them have any interest, direct or indirect, in the Transaction.
This announcement is dated 1 April 2015.
Cc Securities Commission