According to market sources, New York Life acquired 49,99,130 shares of MFS from Max Ventures Investment Holdings, a promoter group holding company, at Rs 429.50 per share in a bulk deal on Thursday.
Max Life has also announced a separate agreement with New York Life for the latter to provide certain offshore support services to its former executives.
Max Ventures and Industries have announced the sale of 22.5 percent to New York Life for Rs 121 crore. In an interview to CNBC-TV18, Sahil Vachani, MD of Max Ventures & Industries spoke about the contours of the deal as well as about the latest happenings in his company and sector.
Japan's MS&AD is acquiring New York Life's 26% stake in a joint venture with Max India for about 530 million, in another example of Japanese companies' growing appetite for overseas assets.
Japan's MS&AD is set to buy New York Life's 26% stake in a joint venture with Max India for about USD 540 million, two sources said on Thursday, signaling the continued appetite of Japanese companies for overseas assets.
Japan's MS&AD is likely to buy 26% stake of New York Life. The new partner will replace New York Life, reports CNBC-TV18.
Japan's MS&AD is close to buying a 26% stake in a joint venture between New York Life and Max India for about USD 540 million, a source said on Thursday.
Japan's MS&AD Insurance is close to agreeing to buy a 26% stake in life insurance joint venture between New York Life and Max India for about 28 billion rupees, a source familiar with the matter said on Thursday.
New York Life will exit Indian insurance JV, however, partner Max India will get 1/3rd of proceeds, reports The Economic Times.
New York Life Insurance Co is in talks to sell its stake in a joint-venture with healthcare and life insurance company Max India, according to newspaper reports on Wednesday citing an unnamed source.