OK, yep, we missed this one from last week;
AXA has announced that it has entered into an agreement with Generali to sell its insurance operations in Malaysia, which include its 49.99% shareholding in AXA Affin General Insurance (“AAGI”) and 49% shareholding in AXA Affin Life Insurance (“AALI”). Under the terms of the agreement, AXA will sell its ownership in AAGI and AALI for total cash proceeds of RM 688 million* (or Euro 140 million*).
The transaction is subject to closing conditions, including the receipt of regulatory approvals, and is expected to close by 2Q 2022.
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