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    Bank of India looks to divest insurance JV stake for $160 million

    Synopsis

    BoI is looking to sell 64.9 million shares, or 25.02 per cent stake, in Star Union Dai-ichi Life Insurance Co.

    U.S. Dollar banknotes are seen in this photo illustration
    BoI has a 28.96 per cent stake in the joint venture while Union Bank of India and Dai-ichi Life own 25.10 per cent and 45.94 per cent, respectively.
    State-owned Bank of India on Friday offered to sell a 25 per cent stake in its joint venture company with Union Bank of India and Japan's Dai-ichi Life Holdings Inc for up to Rs 11.06 billion ($159.87 million).

    BoI is looking to sell 64.9 million shares, or 25.02 per cent stake, in Star Union Dai-ichi Life Insurance Co Ltd at a floor price of Rs 170.50 per share, it said in a filing.

    BoI has a 28.96 per cent stake in the joint venture while Union Bank of India and Dai-ichi Life own 25.10 per cent and 45.94 per cent, respectively.



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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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