M&A

M&A

Bajaj Finserv to buy Allianz's 26% stake in insurance JVs for Rs 24,180-Cr

BSE Disclosure   Business Standard  

Publicly listed Bajaj Finserv - along with its group firms - is to acquire the 26% stake held by Germany-based Allianz in their two insurance joint ventures: Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) - for INR 24,180 crore.Bajaj Group will acquire the 26% stake in BALIC for INR 10,400 crore and in BAGIC for INR 13,780 crore.