Hawaiian Electric sells 90% interest in American Savings Bank

Hawaiian Electric Industries

31/12/2024 19:07

Dec 31 (Reuters) - Hawaiian Electric Industries  HE.N 
said on Tuesday it has closed the deal to sell 90.1% stake in
its unit American Savings Bank (ASB).
    The deal values the bank at $450 million, with the investors
purchasing the 90.1% of ASB common stock for a cash
consideration of $405 million.

 (Reporting by Sourasis Bose in Bengaluru; Editing by Mohammed
Safi Shamsi)
 ((Sourasis.Bose@thomsonreuters.com;))