Tan is talking to advisers about a possible divestment, the people said, asking not to be identified because the information is private. He may seek to sell at a price that values the entire business at RM20 billion or more, one of the people said.

Deliberations are at an early stage and might not result in a sale, while the amount sought could also change, the people said.

Tan’s Detik Ria Sdn., which is also linked to the royal family of Johor, and Prudential plc settled a long-running legal dispute last year that resulted in the sale of a 19% stake to the UK insurer.

The agreement valued the Malaysian unit at about RM8 billion and left Detik Ria with a 30% holding and Prudential with 70%, the limit under Malaysian rules for foreign investors in local insurers. A buyer for Tan’s stake would need to be Malaysian.

Tan declined to comment. Prudential and the Malaysian unit did not respond to requests for comment.