MPHB to sell stake in insurance firm

Generali Asia and MPCHB have agreed that the purchase price will be adjusted if completion of the deal occurred during the extended completion period (being the period commencing on Jan 1, 2022 and expiring on June 30, 2022, and subject to a further extension of up to Aug 31, 2022).

KUALA LUMPUR: MPHB Capital Bhd’s wholly-owned subsidiary Multi-Purpose Capital Holdings Bhd (MPCHB) has agreed to sell its 51% equity interest in MPI Generali Insurans Bhd for RM485mil to Generali Asia, Bernama reported.

“MPHB and its subsidiaries are currently involved in the underwriting of general insurance business, provision of general loan financing services and property investment and management.”