 "Nippon life Insurance completes acquisition of 49% stake in RNLAM")
Nippon Life Insurance, the Japanese life insurance company, has completed the acquisition of 49 per cent stake in Reliance Nippon Life Asset Management (RNLAM). Reliance Capital, the holding company of RNLAM, has received Rs 378 crore upon the completion of the acquisition by Nippon life.
Reliance Capital will book capital gains on this final transaction in the quarter ending September 30, 2017, said the company in a statement to BSE.
Nippon life insurance, one of the largest insurers in the world, had acquired 26 per cent stake in RNLAM in 2012. It manages around Rs 34.45 lakh crore in assets.
RNLAM, during the year
