AmBank not disposing interests in AmInvest

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KUALA LUMPUR: The AmBank Group has clarified that it is presently not in any discussions with any parties pertaining to the disposal of its interest in AmInvest.

“Should there be any pertinent announcements to be made, we will do so in accordance to listing requirements,” the bank said in a statement.

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Earlier, Bloomberg reported that AMMB Holdings Bhd is weighing a sale of its asset management unit that could be valued at as much as US$300mil.

It quoted sources that said AMMB has been approached by other industry players and private equity firms which have expressed interest in AmInvest.

“A deal could value the asset management unit at between US$250mil and US$300mil, said the people, who asked not to be identified as the information is private,” the report said.