M&A

IDBI Bank to sell balance 25% stake in life insurance JV to Ageas

Business Standard  

Private sector lender IDBI Bank will offload its remaining 25% stake in Ageas Federal Life Insurance Company (AFLI) to joint venture partner Ageas Insurance International NV. In December 2020, IDBI Bank had sold a 23% stake in the JV to Ageas for INR 507 crore. This had raised Ageas stake in the JV to 49%.

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