A file picture shows Menara AIA in Kuala Lumpur. With the acquisition of ING’s business in Malaysia, AIA will be among the top insurers in the country.
PETALING JAYA: A deal worth about US$1.8bil could be struck very soon between AIA Group Ltd and ING Group for the former to acquire the latter's insurance operations in Malaysia and Thailand as part of ING's divestment plan in Asia.
A source familiar with the matter said the deal looks imminent and discussion was in advanced stage as both parties were now negotiating on the final terms and conditions of the purchase. If all goes well, the deal could be concluded before year-end, the source added.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
