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RHB Bank ends talks to sell insurance unit to Tokio Marine Asia

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RHB Bank ends talks to sell insurance unit to Tokio Marine Asia

RHB Bank Bhd. will not proceed with the proposed sale of its 94.7% equity interest in subsidiary RHB Insurance Bhd. to Tokio Marine Asia Pte. Ltd., according to a company announcement.

The companies could not reach mutually acceptable terms and conditions, and agreed to cease negotiations regarding the transaction.