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ACLEDA deal delayed

ACLEDA deal delayed

THE purchase of a stake in ACLEDA Bank by JSH Asian Holdings Ltd is awaiting approval from the National Bank and registration with the Ministry of Commerce, an ACLEDA official said Tuesday, but completion of the deal could be weeks away. JSH Asian Holdings, a subsidiary of Jardine Strategic Holdings Ltd, agreed to purchasea 12.5 percent stake in Cambodia’s second-largest bank from the Netherlands Development Finance Company, FMO, in December 2009 for an undisclosed sum. The National Bank was “very busy”, said Prom Visoth, senior vice president of ACLEDA’s legal and corporate affairs division.

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