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BOI to sell 25% stake worth $160 mn in Star Union Dai-ichi Life Insurance

BOI has a 28.96 per cent stake in the joint venture, while Union Bank of India and Dai-ichi Life owns 25.10 per cent and 45.94 per cent, respectively

Reuters 

BOI, United Bank to raise up to Rs 1,500 crore via bonds
Bank of India

State-run Ltd on Friday offered to sell a 25 per cent stake in its joint venture company with Union Ltd and Japan's Life Holdings Inc for up to Rs 11.06 billion ($159.87 million).

is looking to sell 64.9 million shares, or 25.02 per cent stake, in Star Union Life Insurance Co Ltd at a floor price of 170.50 per share, it said in a filing.

Bank of India has a 28.96 per cent stake in the joint venture, while and Life owns 25.10 per cent and 45.94 per cent, respectively.

First Published: Fri, April 05 2019. 13:57 IST
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