Tatas exit race to buy Reliance Capital's general insurance arm

Group only interested in general insurance, but lenders want firms to bid for entire cluster of companies

Tata
Premium

Photo: Bloomberg

Dev Chatterjee Mumbai
Tata AIG General Insurance Company, a subsidiary of Tata Sons, has exited the race to buy the general insurance arm of Reliance Capital, Reliance General Insurance Company (RGICL), following the delayed sale and in light of a rule that the company will have to bid for few other companies alongwith other bidders as partners.

The rule to bid for the more than one cluster and with other bidders was made mid-way by the lenders so as to get better bids for all assets. “The Tata group was interested only in the general insurance company but they were asked to bid

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 22 2022 | 6:18 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com