AXA acquisition mooted
AXA Pacific has announced that it is in negotiations to acquire a major Malaysian insurer — Malaysian Assurance Alliance Berhad.
AXA announced on the Australian Stock Exchange this morning that, together with its Malaysian joint venture partner, AFFIN Holdings, it had been granted approval from Bank Negara Malaysia to start negotiations.
It said the approval of Bank Negara Malaysia was required under Malaysian law and did not indicate the existence of any contractual agreements.
The company said it was in the early stages of the investigatory and due diligence process.
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