20.07.2016 - Khazanah in Talks to Buy Stakes in Malaysian Insurers for $800 Million
Canada’s Sun Life Financial Inc. and Malaysian sovereign-wealth fund Khazanah Nasional Bhd. are in discussions to buy majority stakes in two Malaysian life insurers in a deal worth around 3.2 billion ringgit ($800 million), people with knowledge of the deal said. The companies are in negotiations with Hong Leong Financial Group Bhd. to buy its 70% stake in Hong Leong Assurance Bhd. and 65% stake in Hong Leong MSIG Takaful Bhd., the people said. Japan’s Mitsui Sumitomo Insurance Co. owns the remaining stake in both companies...............................................Full Article: Source
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