26.04.2013 - Malaysia’s AMMB plans to dispose of certain stake in life insurance business
Malaysia-based banking group AMMB Holdings is looking for potential buyers to dispose of certain stake in its life insurance operations, in a bid to raise nearly $600m from the deal.Sources familiar with the deal were quoted by the Wall Street Journal as saying that the auction sale of nearly 70% stake is expected to begin in the next two to three weeks. After the first round of bidding, successful suitors will be shortlisted in June and prior to proceeding with the next round of auction, they will have to obtain the approval from Malaysia's banking regulator...............................................Full Article: Source
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