Insurance Post

Aviva sets bid deadline for Malaysian unit

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British insurer Aviva and Malaysian bank CIMB Group Bhd have set a 29 October deadline for suitors to place binding bids to buy their Malaysian insurance joint venture, in a deal worth at least $500m, according to Reuters.

Prudential, Manulife Financial Corp and Sun Life Financial are the remaining suitors for the venture after AIA Group dropped out of the race as it is close to grabbing ING's insurance unit in Malaysia

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