Financial Services Provider Buys Muang Thai Insurance Stakes.
By Charoen Kittikanya, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Mar. 9--Fortis, the Brussels-based international financial services provider, yesterday signed an agreement worth 61 million euros (2.96 billion baht) to acquire stakes in three subsidiaries of Muang Thai Insurance Group in order to expand its business in Thailand.
Fortis said in a statement that it would acquire 25 percent of Muang Thai Life Assurance, 25 percent of Muang Thai Insurance and 20 percent of Muang Thai Holding. The investment would be made through the purchas
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