08.01.2013 - Resolution sells 30pct stake in AmLife, AmFamily Takaful for RM245mln
Resolution Ltd has disposed of its 30% stake in AmLife, AmFamily Takaful to its joint venture partner, AmBank Group for RM245mil. It said on Monday following the sale and the benefit of a currency hedge, Friends Life Group plc would receive about 50mil cash. "Following discussions with the AmBank Group, Friends Life concluded that the business required a greater level of short term investment and commitment to meet its growth potential than was appropriate for Resolution to provide," it said...............................................Full Article: Source
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