 "HDFC completes 22.9% stake sale in HDFC ERGO to foreign partner")
Housing Development Finance Corporation Limited (HDFC) today said that it has completed sale of 22.9% of its stake in HDFC ERGO General Insurance to Germany-based ERGO Insurance Group.
Now, HDFC will hold 50.73% while ERGO will hold 48.74%. The foreign partner has paid Rs 1,122 crore for the additional stake (22.9%), valuing the insurer at Rs 4,900 crore. This deal was announced in December 2015.