Allianz Malaysia: Talks With MNRB Ended On Stake Buy In MNRB Unit

Allianz Malaysia Bhd. (1163.KU) said Wednesday it ceased talks with MNRB Holdings Bhd (6459.KU) about buying a stake in Takaful Ikhlas Sdn. Bhd.

Both parties have "mutually agreed to end the negotiation," Allianz said in a stock exchange filing. No other details were provided in the filing.

MNRB obtained central bank approval to open negotiations with Allianz on December 17, 2010 on the proposed divestment of its unit to Allianz.