Amstar Mortgage to give up managerial control of branches

Aug 22 (Reuters) - Amstar Financial Holdings Inc AFLH.PK said its Amstar Mortgage Corp unit has agreed in principal to give up managerial control of its branches to The Money Store.

Amstar Financial said that it will discontinue operations of its mortgage unit on or about Dec. 15, while adding that it expects to honor its lender commitments until this date.

Amstar spokesman Michael Wayland did not immediately return requests for further comment. (Reporting by Tenzin Pema in Bangalore)