Thursday, December 16, 2010

MAA Hldgs may sell to Zurich Insurance

MAA Holdings Bhd said it’s in talks to sell a stake in its Malaysian insurance unit to Zurich Insurance Co after ending negotiations with AmG Insurance Bhd.

MAA signed an agreement with Zurich Insurance to evaluate and negotiate for the possibility of the latter buying a stake in Malaysian Assurance Alliance Bhd, MAA said in a statement today.

Malaysia’s central bank has no objections for both companiees to start negotiations, it said. -- Bloomberg

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