HONG KONG: Prudential PLC’s Malaysian unit is in talks with the country’s No. 2 pension fund to sell a 30% stake, valued at about US$435mil (RM1.69bil), said people with knowledge of the matter, as overseas insurers race to comply with new foreign ownership rules.
The discussions between Prudential Assurance Malaysia Bhd, a wholly-owned unit of the British insurer, and the Retirement Fund Inc (KWAP) are not exclusive, and details of a possible deal could be finalised as early as this month, said the people.
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