To sell 44% stake in Religare Life Insurance Company to Bennett, Coleman and Company
Religare Enterprises announced that Religare has reached a definitive agreement with Bennett, Coleman and Company to acquire Religare's shareholding in the life insurance JV Company, Aegon Religare Life Insurance Company.Aegon Religare Life Insurance Company is the joint venture is between Religare, Bennett, Coleman and Company (BCCL) and Aegon. Religare holds 44% in the JV.
According to the agreement, Aegon would increase its stake in the JV Company to 49% while BCCL would acquire the entire 44% from Religare. This transaction is subject to necessary and appropriate regulatory approvals of CCI, FIPB and IRDA.
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