AFG selling 30% stake of Takaful associate to AIA for RM45m

Alliance Financial Group (AFG) is selling its 30% stake in AFG Takaful to American International Assurance. The stake comprises 30 million shares of RM1 each, and is being sold for RM45mil. AIA AFG Takaful's core business is to carry out family takaful business. AFG said the disposal was not expected to have any material effect on AFG's net assets per share, earnings per share and gearing of AFG for FY ending March 31, 2013.

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