KKR and Temasek buys 3.9% in SBI Life – Feedback

The country’s largest lender State Bank of India today sold 3.9% stake in its life insurance venture SBI Life to private equity firms KKR and Temasek. The deal values SBI Life at Rs 46,000 crore.

“KKR and Temasek has bought 3.9% stake in SBI Life Insurance Company,” said two sources. SBI Life is a joint venture between State Bank of India and BN Paribas Cardiff. In a filing to Bombay Stock Exchange, SBI said that the executive committee of the central board of the bank at its meeting held on December 09, 2016 has approved divestment 3.9% stake in SBI Life Insurance Company at a price of Rs. 460 per share, subject to all regulatory approvals.

http://economictimes.indiatimes.com/industry/banking/finance/kkr-and-temasek-buys-3-9-in-sbi-life/articleshow/55894601.cms

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