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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")
DISPOSAL OF 21.00% EQUITY INTEREST IN AXA AFFIN LIFE INSURANCE BERHAD ("AALI") ("AALI DISPOSAL");
DISPOSAL OF APPROXIMATELY 2.95% EQUITY INTEREST IN AXA AFFIN GENERAL INSURANCE BERHAD ("AAGI") ("AAGI DISPOSAL"); AND
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, 30 August 2022 and 9 December 2022.
Affin Hwang Investment Bank Berhad wishes to announce on behalf of the Board of Directors of Affin that AAGI and MPIG have today jointly submitted an application to the High Court of Malaya pursuant to Section 102 of the Financial Services Act 2013 for an order to give effect to the business transfer scheme for the purposes of the Proposed Merger. This follows the execution of the business transfer agreement with Generali Asia N.V., MPIG and AAGI for the Proposed Merger on 9 December 2022, as supplemented by the Supplemental Letter to the Business Transfer Agreement dated 17 February 2023.
This announcement is dated 3 March 2023. |
|
| Company Name | AFFIN BANK BERHAD |
| Stock Name | AFFIN |
| Date Announced | 03 Mar 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-05012023-00013 |
Copyright 2020 Affin Bank Berhad 197501003274 (25046-T).
