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.