RHB Bank gets stake in Bank Mestika

RHB Bank now holds investments in PT Bank Mestika Dharma on behalf of RHB Capital Bhd. This is pursuant to the proposed acquisition of the Indonesian bank by the Malaysian financial group.

RHB Bank replaced RHB Venture Capital Sdn Bhd or RHB VC, which had earlier been identified as the entity to hold the investment in Bank Mestika.

It said RHB VC had already assigned all of its rights, title, interest, benefit and entitlement, and novated all of its obligations and liabilities as contained in the Transaction Agreements to RHB Bank last Friday. Accordingly, RHB Bank had yesterday submitted the relevant applications to Bank Indonesia and Bank Negara as the acquirer for the proposed acquisition and the proposed options.