MetLife To Pay $250M For Half of Malaysian Insurance Units

Law360, New York (December 19, 2013, 4:52 PM ET) -- Malaysian banking group AMMB Holdings Bhd agreed to sell roughly half of two AmLife Insurance units to MetLife for RM 812 million ($249 million), the companies said Thursday.

Under the deal, New York-based MetLife will own 50 percent plus one share in AmLife Insurance Berhad, while AMMB will hold onto the rest. AMMB will retain 50 percent plus one share of AmFamily Takaful Berhad, with the rest going to MetLife. The deal is subject to pending Malaysian regulatory approval.

“Our proposed transaction advances MetLife’s strategy to...
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