 "IDBI Bank")
Private lender IDBI Bank has concluded the sale of 23 per cent stake in IDBI Federal Life Insurance Company Ltd (IFLI) to Ageas Insurance International NV for a consideration of Rs 507 crore. With this, Ageas will hold 49 per cent stake in insurance venture, which is now being rebranded as Ageas Federal Life Insurance Company.
On August 6, 2020, IDBI Bank inked a pact to sell up to 27 per cent in IDBI Federal Life to venture partners Ageas and Federal Bank. Of the total shareholding to be divested, 23 per cent was to be sold to Ageas while Federal
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