Nippon buys into Reliance Capital

Nippon buys into Reliance Capital

BS Reporter /  March 23, 2012, 0:30 IST

Japanese life insurer Nippon has finalised agreements to buy a 26 per cent stake in Reliance Capital Asset Management (RCAM), at an aggregate value of Rs 1,450 crore. The transaction pegs RCAM’s valuation at Rs 5,600 crore and is subject to approvals.