Malaysia's Public Bank to buy 44.15% stake in insurer LPI Capital for $400m

Malaysia's Public Bank to buy 44.15% stake in insurer LPI Capital for $400m

Petronas Twin Towers in Kuala Lumpur, Malaysia. Photo by Elliot Andrews on Unsplash

Malaysia’s third biggest lender by assets, Public Bank, said on Thursday that it will acquire a 44.15% stake in general insurer LPI Capital for 1.72 billion ringgit ($400.5 million) in cash.