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Hawaii News

HEI sells 90% of American Savings Bank to help pay for Maui fire settlement

GEORGE F. LEE / GLEE@STARADVERTISER.COM
                                Hawaiian Electric Industries Inc. has sold off over 90% of its subsidiary American Savings Bank to independent investors to help pay its share of the $4 billion Maui wildfire lawsuit settlement. The bank campus, above, is downtown at 300 N. Beretania St.
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GEORGE F. LEE / GLEE@STARADVERTISER.COM

Hawaiian Electric Industries Inc. has sold off over 90% of its subsidiary American Savings Bank to independent investors to help pay its share of the $4 billion Maui wildfire lawsuit settlement. The bank campus, above, is downtown at 300 N. Beretania St.

COURTESY PHOTO
                                <strong>“The sale of ASB is a significant step by HEI to show that the company and their shareholders are taking responsibility for their financial situation in the wake of the Maui wildfires.”</strong>
                                <strong>Jarrett Keohokalole</strong>
                                <em>State senator (D, Kaneohe-Kailua)</em>
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COURTESY PHOTO

“The sale of ASB is a significant step by HEI to show that the company and their shareholders are taking responsibility for their financial situation in the wake of the Maui wildfires.”

Jarrett Keohokalole

State senator (D, Kaneohe-Kailua)

COURTESY PHOTO
                                Scott Seu
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COURTESY PHOTO

Scott Seu

GEORGE F. LEE / GLEE@STARADVERTISER.COM
                                Hawaiian Electric Industries Inc. has sold off over 90% of its subsidiary American Savings Bank to independent investors to help pay its share of the $4 billion Maui wildfire lawsuit settlement. The bank campus, above, is downtown at 300 N. Beretania St.
COURTESY PHOTO
                                <strong>“The sale of ASB is a significant step by HEI to show that the company and their shareholders are taking responsibility for their financial situation in the wake of the Maui wildfires.”</strong>
                                <strong>Jarrett Keohokalole</strong>
                                <em>State senator (D, Kaneohe-Kailua)</em>
COURTESY PHOTO
                                Scott Seu