12.03.2013 - AFG selling 30pct stake of Takaful associate to AIA for RM45mln
Alliance Financial Group Bhd (AFG) is selling its 30% stake in AFG Takaful Bhd to American International Assurance Bhd for RM45mil. AFG said on Monday its unit Alliance Bank Malaysia Bhd had signed a conditional share sale agreement with AIA to sell the stake, comprising of 30 million shares of RM1 each for a cash consideration of RM45mil. AIA AFG Takaful's core business is to carry out family takaful business. It was incorporated on Dec 6, 2010 with a paid-up of RM100mil...............................................Full Article: Source
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