Private insurance company Royal Sundaram General Insurance Ltd announced Wednesday the sale of 40% stake to Ageas Insurance NV of Belgium for Rs1,520 crore. Currently Sundaram Finance Ltd holds 75.9% in Royal Sundaram and proposes to divest 25.9%, thereby retaining 50% of its holding, post the divestment. Some other existing Indian shareholders will hold the balance 10% in Royal Sundaram. The transaction is expected to close in the first quarter of 2019.
End the Year with a Deal You Can’t Miss!
Subscribe now and save 40% on our premium subscription.
Enjoy unlimited access for a full year at just $199 (usual price $339).
Premium coverage on private equity, venture capital, and startups in Asia.
Exclusive scoops from our reporters in nine key markets.
In-depth interviews with industry leaders shaping the ecosystem.
Offer valid for a limited time – don’t wait to unlock the insights that drive deal-making in Asia!
Subscribe nowAlready a Subscriber? Log in
Contact us for corporate subscriptions at subs@dealstreetasia.com
