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Provider: Thomson Reuters Stock Report
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AMMB Holdings Bhd sells AmLife stake to Metlife Inc for $250 mln - Reuters

Thursday, 19 Dec 2013 08:04am EST 

AMMB Holdings Bhd:Says it will sell a 51 pct stake in its insurance arm AmLife Insurance for 812 million ringgit ($249 million) to U.S. insurer Metlife Inc - Reuters.Says it will retain a part share in AmLife and 51 percent of AmFamily Takaful Berhad.Says as part of the deal, MetLife will also enter an exclusive 20-year agreement to sell insurance and takaful products through AMMB's banking network across Malaysia.Says Morgan Stanley was the exclusive financial advisor to AMMB. 

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