Premji, Temasek pay $296m for stake in ICICI's life insurance unit
PremjiInvest - the family office of Wipro Enterprises chairman Azim Premji - and Singapore's Temasek Holdings have agreed to pay INR19.5 billion ($296 million) for a 6% stake in the life insurance unit of ICICI Bank.
PremjiInvest will take a 4% stake in ICICI Prudential Life Insurance, with Temasek taking a 2%, according to a release. ICICI Bank and its joint venture partner Prudential will continue to hold stakes...
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