MNRB to acquire 80% of Labuan Re

MNRB Holdings Berhad, a Malaysian investment holding company, has entered into an agreement to acquire an 80% stake in Labuan Re. The transaction is valued at 400.49 million MYR (100.69 million USD).

The remaining 20% stake is held by Malaysian Re, a wholly owned subsidiary of MNRB.

Upon completion of the acquisition, MNRB will become the sole shareholder of Labuan Re, holding 80% directly and the remaining 20% indirectly through Malaysian Re.