Wednesday, July 6, 2011

MNRB, Allianz end talks on Takaful Ikhlas sale

KUALA LUMPUR: MNRB HOLDINGS BHD [] and ALLIANZ MALAYSIA BHD [] have ended their negotiations over MNRB's proposed sale of its takaful business.

MNRB said on Wednesday, July 6 that both parties had mutually agreed to end the negotiations.

The proposal involved MNRB's disposal of its equity interest in its unit Takaful Ikhlas Sdn Bhd.

MNRB had in December last year announced it had obtained Bank Negara Malaysia's approval to commence negotiations with Allianz Malaysia on the proposed divestment of a portion of its equity interests in Takaful Ikhlas.

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