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ICICI Bk approves 6% stake sale in ICICI Pru Life Insurance

The transaction is valued at Rs 32,500 crore.

Private bank ICICI Bank today approved a 6 percent sale in ICICI Prudential Life Insurance. After the deal, the bank will hold 68 percent stake ,while the Prudential PLC (the joint venture partner) will hold 26 percent. The remaining 6 percent stake will be sold to Premji Investment and Compassvale Investment.

The transaction is valued at Rs 32,500 crore.

Stay tuned for more.

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