AMMB confirms talks with Great Eastern over AmMetLife sale FMTNews FMTBusiness
PETALING JAYA: AMMB Holdings Bhd is currently holding preliminary talks with Singapore-based insurer Great Eastern Holdings Ltd on the possible sale of AmMetLife Insurance Bhd, its jointly owned subsidiary.
Great Eastern is reportedly conducting due diligence on AmMetLife and is seeking regulatory approval to clinch the deal.AmMetLife, which is jointly owned by US-based MetLife Inc and AMMB, could be valued at between US$250 million and US$300 million following the potential transaction. “Accordingly, any and all announcements related to this matter will be made in strict accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Bhd,” said AMMB.
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