KUALA LUMPUR: Malayan Banking Bhd (Maybank) has entered into an unconditional share purchase agreement (SPA) with Belgium-based Ageas Insurance International NV to acquire the remaining 30.95% equity interest in Maybank Ageas Holdings Bhd for RM4.83bil.

In a filing with Bursa Malaysia yesterday, Maybank said the agreement involves acquiring 78 million Maybank Ageas shares from Ageas Holdings.

It signed the SPA after receiving approval from Bank Negara Malaysia on Sept 1, 2026, and that the purchase consideration will be funded entirely through internally generated funds.

Maybank said the proposed acquisition is intended to enable it to wholly own Maybank Ageas and provide the group with greater strategic flexibility.

“The acquisition is also aimed at strengthening Maybank Ageas’ position as a national insurance and takaful player, supporting expansion across South-East Asia, enhancing sustainable and resilient long-term value for the Maybank group.” — Bernama

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