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Sun Life Financial (NYSE:SLF): Closing price $28.63
Sun Life Financial and Khazanah Nasional Berhad partnering to purchase 98 percent of CIMB Aviva Assurance Berhad, a Malaysian life insurance firm, and CIMB Aviva Takaful Berhad, a Malaysian takaful company, at a price of C$586 million. Sun Life and Khazanah are each paying C$293 million, which includes a new 20-year exclusive bancassurance arrangement with CIMB Bank. The parties are each buying 49 percent of the firm from Aviva International Holdings Limited and CIMB Group Holdings Berhad, respectively. CIMB Group will keep a 2-percent interest in the company. Shares closed up 1.06 percent on the day at $28.63, and have traded in a 52-week range of $18.94 to $28.48.
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