Board of Tube Investments of India approves sale of 14% stake in Cholamandalam MS General Insurance Company
At meeting held on 25 December 2015
Tube Investments of India announced that the Board of Directors of the Company at its meeting held on 25 December 2015 has approved the sale of 14% shareholding in Cholamandalam MS General Insurance Company to its joint venture partner, Mitsui Sumitomo Insurance Company for a consideration of Rs 882.67 crore. The transaction is subject to regulatory approvals. Upon completion of the transaction, MSI will increase its ownership in the General Insurance joint venture from 26% to 40%.Powered by Capital Market - Live News