Malaysia's BIMB may buy Dubai Financial Group's stake in Bank Islam

The board of Malaysia's BIMB Holdings is set to discuss a plan to acquire Dubai Financial Group's equity interest in Bank Islam Malaysia by the end of May, Business Times has reported. Valuation and pricing parameters for the acquisition, had been determined, BIMB Holdings managing director and CEO, Johan Abdullah, said. "However, we haven't got into a full-blown discussion on the proposal. We will talk to our advisors and come up with a mechanism on how to approach it," he said. BIMB owns 51% of Bank Islam, while Dubai Financial has a 30.5% stake, with the remaining 18.5% under Malaysia's haj pilgrims fund board, Lembaga Tabung Haji.
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