Acquisition of BH Insurance. Affin said that its 40%-owned associate AXA Affin General Insurance (AAGI) will acquire 80% of BH Insurance from Boustead Holdings for RM362.6m cash (RM359m principal amount and RM3.6m interest accrued) and 20% of BH insurance from Felda Marketing Services for RM90.6m via issuance of 19m new shares (or 16% of AAGI’s enlarged paid-up capital). Post acquisition, its stake in AAGI will be reduced from 40% to 33.6%.
Affin Holdings Berhad : Acquisition Of BH Insurance - 03/03/2010
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