CIMB group signs MOU with RBS

The MOU is for proposed acquisition of cash equities and corporate finance businesses of RBS.

According to a release, CIMB Group signed a memorandum of understanding (the “MOU”) for the proposed acquisition of certain of the cash equities, equity capital markets and corporate finance businesses of The Royal Bank of Scotland in Asia Pacific.

The MOU provides for the parties to negotiate exclusively with each other and finalise the scope and terms of a sale and purchase agreement.

Further announcements on this proposed transaction will be made at the appropriate time.