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India: Nippon gets CCI nod for hiking stake in Reliance Life to 49%

 |  February 11, 2016

Competition Commission has approved Japanese insurer Nippon Life’s additional 23 per cent stake purchase plan in Reliance Life Insurance in a deal worth Rs 2,265 crore.

Once the deal is complete, Nippon Life Insurance would have 49 per cent stake in the company, the maximum ownership allowed for a foreign player in a domestic private insurer.

With the new shareholding structure, the name of the company would be changed to Reliance Nippon Life Insurance Company Ltd.

Full content: The Economic Times

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