France’s AXA, Malaysia’s Affin Bank seek buyer for USD 650mn insurance JV sale
France’s AXA Insurance and Malaysia’s Affin Bank Bhd are considering selling their insurance JV — AXA Affin Insurance – for USD 650mn, Bloomberg reported quoting sources with knowledge of the matter.
Affin Bank Bhd has a 49.9% stake in AXA Affin General Insurance, and a 51% stake in AXA Affin Life Insurance. The French insurer anticipates to get USD 500mn from the deal, while the Kuala Lumpur-based bank will get the remaining USD 150mn.
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