A decision on stake dilution in SBI Life Insurance in favour of the foreign partner is likely to be finalised within two months, the company’s MD and CEO, Arijit Basu, told BusinessLine .
SBI Life — the country’s largest private life insurer — is a 26:74 joint venture between France’s BNP Paribas Cardif and State Bank of India.
According to Basu, about 10 per cent stake will be divested in favour of BNP Paribas Cardif (by SBI). Post this, Cardif’s stake will go up to 36 per cent.
“We have offered them 10 per cent. And we are very close to a deal. Hopefully, in two month’s time (by July-end) a decision will be taken,” he said.
