HDFC ERGO completes acquisition of L&T General Insurance

Home financier Housing Development Finance Corporation Ltd. (HDFC) on Friday said its non-listed subsidiary HDFC ERGO General Insurance Company Ltd. has completed acquisition of L&T General Insurance Company Ltd.

In a regulatory filing in BSE, HDFC said pursuant to receipt of requisite approvals HDFC ERGO has acquired 100 per cent shares of L&T General Insurance.

The company in June 2016 had announced that HDFC ERGO would acquire the entire stakes of L&T General Insurance for Rs. 551 crore.

The HDFC also said that it has completed its second issue of rupee denominated bonds aggregating to Rs.500 crore.

--IANS

vj/vgu/vm