PETALING JAYA: AMMB Holdings Bhd
and US-based MetLife International Holdings LLC have mutually agreed to terminate the proposed disposal of their jointly-owned insurance and takaful businesses to Great Eastern Holdings Ltd, a deal that was initially worth RM1.12bil.
In a filing with Bursa Malaysia, AMMB said the parties involved, namely, AMMB, MetLife and Great Eastern, collectively decided not to proceed with the sale of AmMetLife Insurance Bhd and AmMetLife Takaful Bhd to Great Eastern Life Assurance (M) Bhd and Great Eastern Takaful Bhd.
