M&A

M&A

UK's Aviva raises stake in India JV from 49% to 74%

Business Line  

UK-based Aviva has increased its holding in its Indian joint venture Aviva Life Insurance Company India Ltd (ALICIL) from 49% to 74%. The additional 25% has been acquired from the Burman family promoted Dabur Invest Corp whose stake now falls to 26% (from 51% previously). In 2016, Aviva had increased its holding in ALICIL to 49% when it acquired a 23% stake from the Dabur family.