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Principal and CIMB Group complete new ownership agreement in joint ventures across Southeast Asia

May 25, 2018
Kuala Lumpur, Malaysia – Principal Financial Group (“Principal”) and CIMB Group (“CIMB”) have completed the new ownership agreements in relation to their asset management joint ventures on 25 May 2018, including all the necessary regulatory approvals. With the completion, Principal now has 60 percent ownership of CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management with CIMB retaining 40 percent ownership in both entities. The joint ventures will continue to be co-managed by both shareholders.

With the new structure, CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management will offer customers additional products and services to help meet their individual investing outcomes – driven by the expertise of a global asset manager. 
 

 

Source: Principal Financial Group

Principal Financial Group

Media Contact:

Jane Slusark, 515-362-0482

slusark.jane@principal.com

or

Investor Contact:

John Egan, 515-235-9500

egan.john@principal.com




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