AMMB, MetLife aim to sell jointly-owned units to Great Eastern for RM1.12bil

KUALA LUMPUR: AMMB Holdings Bhd and MetLife International Holdings, LLC (MetLife) plan to dispose of their combined 100 per cent stake in AmMetLife Insurance Bhd (AML) and AmMetLife Takaful Bhd (AMT) to the Great Eastern Group for about RM1.12 billion.

In a filing with Bursa Malaysia, AMMB said wholly owned subsidiary AMAB Holdings Sdn Bhd today inked an implementation agreement with MetLife and Great Eastern Holdings Ltd’s subsidiaries Great Eastern Life Assurance (M) Bhd (GELM) and Great Eastern Takaful Bhd (GETB) for the proposed sale.