ING To Reap $1.7B In Malaysian Insurance Unit Sale To AIA

Law360, New York (October 11, 2012, 2:25 PM EDT) -- AIA Group Ltd., the Asian insurer partially owned by American International Group Inc., on Thursday agreed to pay $1.73 billion for ING Groep NV's Malaysian insurance business, handing the Dutch financial firm its first victory in a yearlong effort to slim down its Asian operations.

The deal echoes strongly of the global financial crisis: ING is selling assets to pay back its 2008 bailout, and AIA is on the hunt for new business, standing more firmly as an independent business after AIG, which has its own...
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