News From Press Max Life, Birla Sun Life, Tata AIA shortlisted for IDBI Federal stake

Max Life, Birla Sun Life, Tata AIA shortlisted for IDBI Federal stake

Source: ET Feb 1, 2018

Max Life Insurance, Birla Sun Life Insurance and Tata AIA Life Insurance are among four bidders shortlisted to buy a significant stake in IDBI Federal Life Insurance in a deal that is likely to value the company at more than Rs 4,500 crore.

A sale at that valuation would fetch about Rs 2,200 crore for IDBI Bank if it sells its entire 48 per cent stake in the insurer. The stress-laden state-run lender is trying to raise funds by selling non-core assets.

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