AMMB completes sale of AGIB

KUALA LUMPUR: AMMB Holdings Bhd’s 51% subsidiary AmGeneral Holdings Bhd (AGHB) has completed the sale of AmGeneral Insurance Bhd (AGIB) to Liberty Insurance Bhd (LIB) for RM2.29bil.

This follows the regulatory approval from the Minister of Finance and the signing of the share sale and purchase agreement with LIB, AmBank Group said in a statement, Bernama reported.

With the completion of the deal, LIB now has acquired 100% of AGIB, previously 51% owned by AMMB and 49% owned by Insurance Australia Group.