Maybank bids for PNB<\/p>\n
MANILA (AFP): Malayan Banking Bhd. (Maybank) has submitted the
\nonly bid to buy a commercial bank subsidiary of Philippine
\nNational Bank (PNB), the Filipino bank said Tuesday.<\/p>\n
PNB told the Philippine Stock Exchange in a statement that
\nMaybank had fully satisfied all requirements for the auction of
\n60 percent of PNB-Republic Bank.<\/p>\n
It said the Malaysian bank submitted an 80 million-peso (US$
\nmillion) deposit but did not disclose the full offer for PNB-
\nRepublic Bank, for which it has set a floor price of 800 million
\npesos.<\/p>\n
The Philippine bank said other pre-qualified bidders failed to
\nsubmit offers and that Maybank's bid would be evaluated with a
\ndecision due by Jan. 12.<\/p>\n
PNB-Republic Bank had a gross 1995 turnover of 354.6 million
\npesos during time which it posted a net loss of 28.3 million
\npesos.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/maybank-bids-for-pnb-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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