Max India has received Competition Commission of India’s (CCI) approval for its proposed corporate restructuring plan to vertically split the company through a demerger into three separate listed firms, including one for life insurance.
Upon the completion of the demerger, Max India is proposed to be named as Max Financial Services and would focus solely on the life insurance activity, through its 72.1 per cent stake in Max Life Insurance.
The deal involves transfer of shareholding of Max in certain entities through which it operates different businesses to its subsidiaries -- Taurus Ventures and Capricorn Ventures.
