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Sundaram Finance on Wednesday signed an agreement with Ageas International to divest 25.9 per cent of its stake in Royal Sundaram for ₹984 crore.
Currently, Sundaram Finance holds 75.90 per cent in Royal Sundaram and will retain 50 per cent of its holding post the divestment. Other shareholders, who collectively own 24.1 per cent stake in Royal Sundaram, will also sell 14.1 per cent, thereby retaining 10 per cent.
Investors will monitor the developments.
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