trending Market Intelligence /marketintelligence/en/news-insights/trending/donwqmkfq3phajp-3aeyhg2 content esgSubNav
In This List

Malaysia's MAA Group unit to sell stake in Columbus Capital for A$21M

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Blog

The World's Largest P&C Insurers, 2023

Blog

The Worlds Largest Life Insurers, 2023

Blog

Essential IR Insights Newsletter Fall - 2023


Malaysia's MAA Group unit to sell stake in Columbus Capital for A$21M

Malaysia's MAA Group Bhd. unit Columbus Capital Singapore Pte Ltd. agreed to sell its 47.95% stake in Australia-based Columbus Capital Pty Ltd. to Consortia Group Holdings Pty Ltd. for A$21.0 million in cash.

Under the transaction, Columbus Capital Singapore will sell 24,336,000 shares of Columbus Capital to Consortia Group. The proposed transaction is expected to close Dec. 20. The buyer will pay A$19.5 million at completion and the balance in 12 months thereafter.

MAA Group said the proposed deal allows it to realize the value of its investment in Columbus Capital at a satisfactory price. The company expects to use proceeds from the proposed sale for future investments.