Insurance News: Malaysia's MAA to sell unit to AMMB
Malaysia's MAA is to sell its general insurance unit to AmG Insurance, part of the AmBank group.
The proposed transfer was approved this week by Bank Negara Malaysia, and is subject to due diligence and a final determination of value.
The deal is for cash with a maximum value of MYR180 million, approx USD51.5m.
The AmBank Group, AMMB Holdings Bhd, is part-owned by ANZ.
Download PDF version of this page