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The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.
| Type | Announcement |
| Subject | OTHERS |
| Description |
AFFIN BANK BERHAD ("AFFIN" OR THE "COMPANY") (I) DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD ("AALI") ("AALI DISPOSAL"); (II) DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD ("AAGI") ("AAGI DISPOSAL"); AND (III) PROPOSED ACQUISITION BY AAGI OF CERTAIN ASSETS AND LIABILITIES OF MPI GENERALI INSURANS BERHAD ("MPIG") VIA A BUSINESS TRANSFER TO AAGI ("PROPOSED MERGER") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
We refer to the announcements dated 22 June 2021, 30 June 2021, 9 May 2022, 18 May 2022, 19 May 2022, 22 August 2022 and 30 August 2022.
Following the completion of the AALI Disposal and AAGI Disposal, on behalf of the Board of Directors of Affin, Affin Hwang Investment Bank Berhad wishes to announce that Affin had on 9 December 2022 entered into a business transfer agreement with Generali Asia N.V., MPIG and AAGI for the Proposed Merger. The Proposed Merger will result in a dilution of Affin’s shareholding in AAGI from 47.00% to 30.00% in the enlarged AAGI.
Please refer to the attachment for further details.
This announcement is dated 9 December 2022. |
|
Please refer attachment below.
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 09 Dec 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-08122022-00093 |
Attachments
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
