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Wednesday September 12, 2012

AIA and ING in advanced talks

HONG KONG: Asian insurer AIA Group Ltd has emerged as the front-runner to buy ING’s Malaysia and Thailand insurance operations, sources with knowledge of the matter said, in a deal that could be worth about US$2bil (RM6bil).

AIA’s purchase of ING’s South-East Asian business would be a key step forward in the Dutch group’s long and complicated effort to auction off its Asia business.

Malaysia and Thailand would be the first piece sold in ING’s Asia divestment plan. – Reuters

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