DRB Hicom Bhd's unit, Uni.Asia Capital Sdn Bhd, received the okay from Bank Negara Malaysia today to proceed with its proposed disposal talks.
On August 15, Uni.Asia submitted an application to the central bank for the proposed disposal of its 100% stake.
This involved the sale and purchase agreement talks with a company to be respectively owned by the Prudential Insurance Company of America and Bank Simpanan Nasional on a 70:30 percent shareholding basis.
As the proposed disposal is subject to the execution of the sale and purchase agreement at a later date, further details will be announced in due course, the conglomerate said in a filing to Bursa Malaysia today.
Uni.Asia is a 51%-owned subsidiary of Gadek (Malaysia) Bhd, which in turn is a wholly-owned subsidiary of DRB Hicom. – Bernama, December 19, 2013.