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Malaysian central bank OKs sales talk for RHB Bank insurance unit

RHB Bank Bhd. obtained Bank Negara Malaysia's approval to begin talks regarding the sale of its 94.7% equity interest in RHB Insurance Bhd. to Tokio Marine Asia Pte. Ltd.

The approval is valid for six months starting from July 29, according to RHB Bank's July 31 filing with Bursa Malaysia.

The parties involved in the talks are required to obtain the Malaysian finance minister's consent before entering into any definitive agreement.