Religare Enterprises has reached a definitive agreement with BCCL to acquire its shareholding in the JV Company ‘Aegon Religare Life Insurance Company’. Aegon would increase its stake in the JV Company to 49% while BCCL would acquire the entire 44% from Religare Enterprises. This transaction is subject to necessary and appropriate regulatory approvals of CCI, FIPB and IRDA.
The company had earlier on September 25, 2014 expressed its intention to exit the life insurance joint venture. The existing joint venture is between Religare Enterprises, Bennett, Coleman and Company (BCCL) and Aegon. Religare Enterprises holds 44% equity in the JV Company.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
