Ageas sells its stake in Maybank Ageas Holdings Berhad to Maybank for EUR 1.1 billion

M&A · Partnership
โดย GlobeNewswire·Read original
Summary · why it matters

Ageas has agreed to sell its 30.95% stake in Maybank Ageas Holdings Berhad to its joint venture partner Malayan Banking Berhad for a total cash consideration equivalent to EUR 1.1 billion. The deal values 100% of MAHB at EUR 3.5 billion, implying a price-to-book ratio of about 2 times the 2025 IFRS equity, and is expected to generate an estimated net capital gain after tax of about EUR 450 million for Ageas. The transaction, anticipated to close in 2026 subject to regulatory approval, will be solvency accretive with an expected increase in the Solvency II ratio of 25 percentage points. Ageas entered the Malaysian market in 2001 through the joint venture, which operates under the Etiqa brand and holds leading positions in life and non-life insurance as well as non-life Takaful in Malaysia. In 2025, the joint venture generated a net operating result of EUR 64 million and remitted EUR 21 million to the Ageas Group.

Impact on stocks 1

Financials▲ · 1 stocks
ageas SA/NV
0Q99
▲ PositiveCapitalrelevance

Sells 30.95% stake for EUR 1.1 billion, generating EUR 450 million net gain and boosting solvency ratio by 25 percentage points.

Off-coverage companies 2

Malayan Banking Berhad (Maybank)Private▲ Positive
Capitalrelevance

Acquires full ownership of MAHB, consolidating its insurance operations and strategic control.

Maybank Ageas Holdings BerhadPrivate± Mixed
Capitalrelevance

Company is the subject of the transaction; impact depends on future integration and performance under full Maybank ownership.

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