HDFC provides update on subsidiary

Board of HDFC ERGO General Insurance Company approves acquisition of L&T General Insurance Company

Housing Development Finance Corporation announced that the Board of Directors of HDFC ERGO General Insurance Company (HDFC ERGO), a non listed subsidiary of the Corporation, at its meeting held on 03 June 2016 subject to receipt of requisite approvals, has approved the acquisition of a 100% stake in L&T General Insurance Company for an aggregate consideration of Rs. 551 crore.

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