Temasek, Carmignac said to be in talks for stake in ICICI's insurance unit
Mumbai
ICICI Bank Ltd, India's largest private- sector lender, is in talks to sell part of its stake in an insurance unit to Temasek Holdings and Carmignac Gestion for about US$300 million, sources familiar with the matter said.
The Mumbai-based lender plans to complete an agreement to sell about 5 per cent of ICICI Prudential Life Insurance by the end of March, the sources said, asking not to be identified as the matter is private. The venture, part-owned by Prudential Plc, is India's biggest private-sector life insurer.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs