 "M&A, mergers & acquisitions, merger, partnerships, Joint venture, JV")
ICICI Lombard General Insurance has initiated talks to acquire Bharti Enterprises backed Bharti AXA General Insurance in all stock transaction, according to sources.
Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent. According to the sources, the valuation of Bharti-AXA has been pegged around Rs 2,800 crore. E-mail sent to Bharti Axa General Insurance, Bharti Enterprises and ICICI Lombard did not elicit an immediate response.
Bharti Enterprises has been trying for a long time to exit its financial services business. In 2016, Bharti Enterprises' talks with Reliance Industries to sell
