Nippon Life Insurance Company signed a definitive agreement to acquire a 26% stake in Reliance Life Insurance. However, the transaction is subject to necessary regulatory approvals.
Nippon Life Insurance will invest an aggregate value of Rs 3,062 crore (USD 680 million) to acquire a 26% strategic stake in Reliance Life Insurance. This transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore (USD 2.6 billion). Commenting on the development, Anil Ambani, Chairman, Reliance Capital said,Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
