Affin seeks Bank Negara nod - Business News | The Star Online

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Affin seeks Bank Negara nod


KUALA LUMPUR: Affin Holdings Bhd is seeking Bank Negara Malaysia’s approval to acquire 7.07% equity interest in AXA Affin General Insurance Bhd (AAGI) from Felda Marketing Services Sdn Bhd for RM99.09mil in cash - short of the 16% stake that it was eyeing earlier.

In a filing with Bursa Malaysia, the financial services group said it submitted an application to the central bank yesterday to seek its nod to purchase 8.412 million ordinary shares in AAGI - which comes to about RM11.78 per share - and to enter into a share purchase agreement (SPA) with Felda Marketing Services for the proposed acquisition.

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