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Great Eastern: Acquisition Of PT QBE General Insurance Indonesia For US$28 Million.

11 Dec 2018 10:34

Great Eastern Holdings Limited's wholly-owned subsidiary, Great Eastern General Insurance Limited, has on 10 December 2018 entered into a share purchase agreement to acquire 100% of the shares in PT QBE General Insurance Indonesia, a company registered in Indonesia, from QBE Asia Pacific Holdings Limited and QBE Insurance (International) Pty Limited. Completion of the transaction is subject to approval by the Otoritas Jasa Keuangan and the Monetary Authority of Singapore. On completion, QBE Indonesia, whose principal activities are manufacturing and distribution of general insurance products, will become a wholly-owned subsidiary of GEH through GEG. The estimated aggregate consideration for the acquisition, which is payable wholly in cash, is USD 28.0 million, approximately S$38.4 million...

Attachments:

• SGX_Announcement111218.pdf

Source: ShareInvestor Express