HEI Announces Sale of American Savings Bank, Creating …
Dec 31, 2024 · HONOLULU-- (BUSINESS WIRE)-- Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today announced the closing of the sale of 90.1% of the common stock of American Savings Bank, F.S.B (ASB), previously its wholly owned subsidiary, to independent investors (the “Investors”) via separate agreements.
HEI Announces Sale of American Savings Bank, Creating …
Dec 31, 2024 · No investor owns more than 9.9% of the bank’s common stock, including HEI, which has retained a 9.9% stake. The Investors also include all of ASB’s executive team and independent directors.
HEI sells American Savings Bank to help pay for Lahaina
Dec 31, 2024 · HEI sold 90.1% of the bank’s stock at $405 million to independent investors, with no investor owning more than 9.9% of the stock. HEI also owns 9.9%.
HEI Announces Sale of American Savings Bank, Creating …
Dec 31, 2024 · HONOLULU--(BUSINESS WIRE)--Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today announced the closing of the sale of 90.1% of the common stock of American Savings Bank, F.S.B (ASB ...
American Savings Bank Welcomes New Investors
ASB December 31, 2024 | 2 MINS read News Releases Bank will continue to operate independently and serve Hawaii’s residents and businesses; no impact to customers, employees or branches. American Savings Bank (ASB) today announced that independent investors (the “Investors”) in separate transactions have acquired non-controlling interests ...
Hawaiian Electric Industries sells bank in wake of ... - American …
5 days ago · The company, which authorities cited for the Lahaina fires that devastated Maui and killed more than 100 people in 2023, said it sold a 90.1% stake in the $9.3 billion-asset American Savings Bank to a group of investors. The investors collectively paid $405 million in cash. HEI said in a press release that the deal valued American Savings at $450 million.
HEI sells American Savings Bank in $405 million deal
Dec 31, 2024 · Hawaiian Electric Industries has sold the majority of shares of its American Savings Bank subsidiary to a mix of independent investors in a $405 million deal for 90.1% of the bank's...
Hawaiian Electric announces closing of sale of American Savings Bank
Dec 31, 2024 · Hawaiian Electric (HE) Industries announced the closing of the sale of 90.1% of the common stock of American Savings Bank, F.S.B, previously its wholly owned subsidiary, to independent investors ...
Hawaiian Electric sells majority stake in American Savings Bank
5 days ago · Power company Hawaiian Electric Industries said Tuesday it has sold a 90.1% stake in its bank subsidiary American Savings Bank to independent investors via separate agreements, in a transaction valued at $450 million. Investors paid $405 million in cash for the bank’s common stock, and the transaction closed Tuesday, HEI said in a news ...
Hawaiian Electric Industries sells American Savings Bank stock to ...
4 days ago · The transaction values the bank at $450 million, with the investors purchasing the 90.1% of American Savings Bank common stock for an aggregate cash consideration of $405 million.
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