Maybank sells shares held in Visa Inc.

Maybank announced that on 15 November 2016 (New York time), it has disposed 1,188,212 Class A common shares held in Visa Inc. ('Shares Disposal'), for a purchase consideration of USD93.9 million (equivalent to approximately RM407.1 million based on the exchange rate of USD1 = RM4.3335 as at 15 November 2016).

The Shares Disposal is carried out as part of Maybank's strategy to be more capital efficient by rationalising our non-core assets. The proceeds from the Shares Disposal will be utilised for additional working capital purposes. Maybank's existing business relationship with Visa Inc. will continue to be a priority and will not be affected as a result of the Shares Disposal.

Details are available in the Bursa Malaysia announcement.

Maybank - Malayan Banking Bhd published this content on 16 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 November 2016 04:18:08 UTC.

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