Affin gets BNM's nod to boost stake in AXA Affin General Insurance

KUALA LUMPUR: Affin Holdings Bhd (AHB) has received Bank Negara Malaysia’s nod to acquire 7.07% equity interest in AXA Affin General Insurance Bhd (AAGI) from Felda Marketing Services Sdn Bhd.

The financial services group told Bursa Malaysia that the proposed acquisition would boost the equity interest in AAGI held by AHB or its commercial banking unit Affin Bank Bhd from 37.07% to 44.14%.

(Longer version of story to come)