ING Vysya transfers insurance stake to Guj Ambuja

ING Vysya Bank has transferred its entire equity stake of 14.87% in ING Vysya Life Insurance Company to Gujarat Ambuja Cement  (GACL).

The stake consisted of 5.80 crores equity shares, according to a release issued by ING Vysya to the BSE today.

"Insurance Regulatory Development Authority (IRDA) has approved the transaction, and the sale transaction has been completed on August 25, 2005," the release added.