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icapital.biz / corporate news / CIMB / Proposed divestment
Its wholly owned subsidiary, CIMB Group S/B, has on 11 Jan 2018 entered into sale and purchase agreements to divest [i] to Principal International (ASIA) Ltd, 24.69 mln shares in CIMB-Principal Asset Management Bhd (CPAM), representing 20.0% of the issued capital of CPAM and [ii] to Principal Financial Services Inc, 1.2 mln shares in CIMB-Principal Islamic Asset Management S/B (CPIAM), representing 10.0% of the issued capital of CPIAM, for a total consideration of RM470.3 mln.