Comments
Exide Industries Ltd said on Friday it has bought out three other partners holding 50 per cent stake in ING Vysya Life Insurance Co Ltd (IVL).
It informed the stock exchanges that the purchase deals involved erstwhile partners — 26 per cent of ING Group, 16.32 per cent of the Hemendra Kothari Group and 7.68 per cent from the Enam Group. The total consideration was around Rs 550 crore.
ING Vysya Life Insurance Co has now become a wholly-owned subsidiary of Exide. The Kolkata-headquartered battery-manufacturing company had first “invested” in the insurer in 2005.
>jayanta.mallick@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.