Sun Life, Khazanah to Buy Aviva’s Malaysian Insurance JV for C$586 Million

Canada’s Sun Life Financial and Malaysian state investor Khazanah will buy 98 percent of Aviva Plc’s Malaysian insurance joint venture with lender CIMB for C$586 million (US$593.6 million).

Sun Life and Khazanah will each pay C$293 million [US$296.8 million], the Canadian company said in a statement.

Sources told Reuters on Sunday that Sun Life and Khazanah had agreed to buy Aviva’s Malaysian insurance joint venture.