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AMMB denies talks to sell AmInvest

AMMB denies talks to sell AmInvest

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In a statement yesterday, AMMB stated: “The AmBank Group would like to clarify in relation to recent media reports that it is presently not in any discussions with any parties pertaining to disposal of its interest in AmInvest.”

PETALING JAYA: AMMB Holdings Bhd (AmBank Group) has denied reports that it is in talks to dispose off its asset managment unit, AmInvest, for about RM1.3bil.

In a statement yesterday, AMMB stated: “The AmBank Group would like to clarify in relation to recent media reports that it is presently not in any discussions with any parties pertaining to disposal of its interest in AmInvest.”

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Bloomberg yesterday stated the banking group is weighing a sale of its asset management unit that could be valued at as much as US$300mil (RM1.33bil), according to people with knowledge of the matter.

The company has been approached by other industry players and private equity firms which have expressed interest in AmInvest, the people said.


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