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AFFIN Holdings seeks more time for AXA Affin General Insurance deal

AFFIN Holdings Bhd. is seeking another time extension to negotiate a proposed deal with Felda Marketing Services Sdn. Bhd. for acquiring additional shares of AXA Affin General Insurance Bhd.

The company said Jan. 27 that it is seeking a six-month extension from Bank Negara Malaysia to conclude negotiations with Felda Marketing.

The company had previously asked for an extension in September 2016 to conclude negotiations by Dec. 31 of that year.

AFFIN is looking to acquire a larger stake in AXA Affin General Insurance by acquiring additional shares from Felda Marketing and other shareholders.