Temasek, Carmignac in talks over ICICI insurance unit stake - report

MUMBAI (Reuters) - ICICI Bank Ltd, India's largest private-sector lender, is in talks to sell part of its stake in a life insurance joint venture to Temasek Holdings Pte and Carmignac Gestion for about $300 million, according to a Bloomberg report.

The lender plans to complete an agreement to sell about 5 percent of ICICI Prudential Life Insurance Co. by the end of March, the report said, citing unnamed sources.

ICICI owns 74 percent of the joint venture, with the remaining 26 percent held by UK insurer Prudential .

A Temasek spokesman declined to comment.

(Reporting by Abhishek Vishnoi; editing by Jason Neely)