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Aia Group Ltd's American International Assurance Company, Limited Completes Acquisition Of ING Management Holdings (Malaysia) Sdn. Bhd. From ING Insurance Asia N.V

Monday, 17 Dec 2012 05:11pm EST 

Aia Group Ltd announced that, following regulatory approvals, its wholly owned subsidiary, American International Assurance Company, Limited (AIA Co.) entered into a Share Sale and Purchase Agreement (the SPA), after market close on December 17, 2012, to purchase the entire share capital of ING Management Holdings (Malaysia) Sdn. Bhd. (ING Malaysia) from ING Insurance Asia N.V. (ING Insurance Asia) (the Transaction). Furthermore, the Transaction has been completed on December 18, 2012. The Transaction involves the acquisition of the entire issued shares in ING Malaysia by AIA Co. from ING Insurance Asia. The consideration paid with respect to the Transaction pursuant to the SPA is approximately EUR1.34 billion (which is equivalent to USD1.73 billion), which was paid in cash on Completion, after taking into account certain adjustments at Completion which are not material.