Acquisition: HLBB: May ask EONCap to provide more
Hong Leong Bank Berhad may request EON Capital Bhd (EONCap) to make further provisions before the proposed acquisition of the latter is finalized. In a written reply to The Edge Financial Daily, HLBB’s parent Hong Leong Financial Group noted: “There has been no change to our offer of Apr 1, 2010. However, we may request the board of EONCap to make such provisions, as we consider appropriate, before completion to facilitate the integration and harmonisation of the two banks. It is believed that the provision relates to some loans in the Middle East.