Affin Banking to transfer stake in Affin Hwang AM

In a statement, Affin Bank said the transaction is expected to be completed in the third quarter of 2022, subject to customary closing conditions, including regulatory approvals.

PETALING JAYA: Affin Banking Group has agreed to transfer its controlling stake in Affin Hwang Asset Management Bhd (Affin Hwang AM) to CVC Capital Partners Asia Fund V.

In a statement, it said the transaction is expected to be completed in the third quarter of 2022, subject to customary closing conditions, including regulatory approvals.