Ageas, an international insurance Group, announced that it has signed an agreement to buy the 25% stake of IDBI Bank in the Indian Life insurance joint venture Ageas Federal Life Insurance Company Ltd. (AFLIC). With this transaction, Ageas will increase its interest in the joint venture it currently operates together with IDBI Bank and Federal…
IDBI Bank has completed sale transaction of its 23% stake to Ageas Insurance International JV on December 31, 2020 pursuant to receipt of the requisite regulatory approvals. Pursuant to sale of 23% holding representing 18,40,00,000 shares to Ageas for a consideration of Rs.507.10 crore, IDBI Bank’s shareholding in IFLI now stands at 25% from the…