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CIMB Group sells stakes in 2 Singapore-based units

CIMB Group Holdings Bhd. unit CIMB Real Estate Sdn. Bhd. completed the sale of its stake in CIMB-TrustCapital Advisors Singapore Pte. Ltd. and CIMB-TrustCapital AOF1 GP Pte. Ltd.

CIMB Real Estate sold a 60% stake in CIMB-TrustCapital Advisors to the firm's key business executives and employee trust and a 100% stake in CIMB-TrustCapital AOF1 to CIMB-TrustCapital Advisors, according to a Dec. 16 release.

The sale is expected to have no impact on CIMB Group's and its units' EPS, net assets per share, gearing and share capital for the year ending Dec. 31.

CIMB-TrustCapital Advisors and CIMB-TrustCapital AOF1 ceased to be indirect subsidiaries of CIMB Group following the sale.