Prudential financial increases stake to 49 % in DHFL Pramerica – Feedback

US based Prudential Financial has increased its stake DHFL Pramerica Life Insurance Company Ltd to 49 per cent.

Under the new agreement, Prudential International Insurance Holdings, a wholly owned subsidiary of PFI has increased its stake in DPLI to 49 per cent, the maximum allowed by Foreign Direct Investment (FDI) regulations. PIIH has acquired 12 per cent equity stake from resources realty private limited and 11 per cent equity stake from Yardstick Developers Private Limited.
PFI is a global financial services company, which does business under the trade name Pramerica in select countries outside the United States.“Over the years, DPLI has evolved as an insurance company to address various financial requirements of customers across the social spectrum,” Kapil Wadhawan, Chairman and Managing Director, DHFL.

http://economictimes.indiatimes.com/industry/banking/finance/prudential-financial-increases-stake-to-49-per-cent-in-dhfl-pramerica-life-insurance/articleshow/55048060.cms

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