Union Bank of India announced that pursuant to the divestment of Union Bank's 21% stake in IndiaFirst Life Insurance Company (IFLIC) in favor of Bank of Baroda, the Bank has transferred 13,93,26,923 Equity Shares of IFLIC to Bank of Baroda.
The process of stake sale had been completed on 31 March 2022 and with the said Divestment, the shareholding of the Bank in IFLIC stood at 9%.
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