MF News ICICI Bank to sell stake in life insurance unit to Temasek, Premji

ICICI Bank to sell stake in life insurance unit to Temasek, Premji

Source: Business Today Nov 17, 2015

ICICI Bank, country's biggest private sector lender by assets, said on Monday it agreed to sell a 6 per cent stake in its life insurance joint venture in two separate deals to billionaire Azim Premji and Singapore state investor Temasek.

The stake sales will value ICICI Prudential Life Insurance Co Ltd at Rs 32,500 crore ($4.9 billion), the bank said in a statement. That would mean the deals would be worth a combined Rs 1,950 crore.

Click here to read more.

Like what you are reading?

Login to get instant access to this article and many other such articles on business development, success stories and industry updates.

Don't worry ... it's FREE!

Have a query or a doubt?
Need a clarification or more information on an issue?
Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

Latest Articles

Motilal Oswal MF launches an index fund focusing on capital market companies

MF bulletin: MF Industry adds over 9 lakh investors in October 2024

What do wealthy investors expect from you?

‘Momentum factor has outdone the broader market 75% of the times in the last 30 years’

Nand Kishore is the new MD and CEO of SBI MF

Axis MF pays Rs.16.57 lakh to settle a case with SEBI

Angel One AMC receives mutual fund license from SEBI

Repo transactions in debt funds should be valued at mark-to-market: SEBI

Your bulletin for the day

The MF industry earns profits of Rs.15,760 crore, a rise of 43% in one year

Click to clap

Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.

0 Comment

Be the first to comment.

More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.

POLL

MORE POLLS

As regards Portfolio Management Services (PMS), what is your status

Actively selling PMS

Not selling PMS but considering it seriously

Not selling PMS and not considering it either

EVENTS FORUMS