RHB aborts planned stake sale in RHB Insurance to Tokio Marine 

RHB Bank Bhd has terminated plans to sell its insurance arm RHB Insurance Bhd to Tokio Marine Asia Pte Ltd (TMA).

The company said in a filing with Bursa Malaysia that it has not been able to reach an agreement on mutually acceptable terms and conditions on its proposed disposal of a 94.7% stake in RHB Insurance to TMA.

As such, RHB Bank and TMA have mutually agreed to cease negotiations, and will not proceed with the proposed disposal.

 

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