AFFIN Submit EON Cap 3rd Bid Proposal

Affin Holdings is believed to have revived its interest in EON Bank Bhd group in a rival bid that betters the one offered by Hong Leong Bank Bhd (HLBB)  (HLBK MK, Hold, TP:RM8.71). Affin which is controlled by Lembaga Angkatan Tentera (LTAT) and its foreign partner Hong Kong’s Bank of East Asia Ltd, had put in a revised proposal for EON Capital Bhd (EON Cap) to Bank Negara Malaysia to rival HLBB’s offer. “This is the third time Affin has submitted a proposal for EON Cap. It is believed that the offer is higher than the HLBB offer and it includes a share equity element,” said a source familiar to the Amatter. (Financial Daily)

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