Government Chooses SBI Capital and Deloitte to Kick-off LIC's IPO
To get the ball rolling for LIC's Initial Public Offering (IPO), India has appointed Deloitte Touche Tohmatsu India Ltd and SBI Capital Markets Ltd as advisors. According to sources, the bidding process for the valuation of Life Insurance Corporation (LIC) will soon get started. Reportedly, the firms appointed will advise the government on the capital structure and the financial statement of the LIC.
Tags: GENERAL INSURANCE, Sales, marketing, SBI
Courtesy: Business Line
Bharti AXA General Insurance to be Acquired by ICICI Lombard
ICICI Lombard General Insurance announced that it will be acquiring Bharti AXA General Insurance in all the stock transactions. Bharti AXA General Insurance's 51% stake is owned by Bharti Enterprises and 49% by French insurer AXA. After the acquisition, the shareholders of Bharti AXA General Insurance will get two shares of ICICI Lombard General Insurance for every 115 shares owned. The deal amount for the acquisition is not disclosed.
Tags: ICICI LOMBARD, BHARTI AXA, GENERAL INSURANCE, SCHEME OF ARRANGEMENT
Courtesy: The Times Of India