Pursuant to Regulation 30(9) of SEBI (LODR) Regulations 2015, State Bank of India has informed that SBIG is a Joint Venture Company between State Bank of India (SBI) and lnsurance Australia Group (IAG). SBI and IAG currently own 70% and 26% respectively in SBIG. IAG has entered into definitive agreements to sell the whole of its 26% interest in SBI General via two transactions. The Agreements have been reached with Napean Opportunities LLP (an affiliate of Premji lnvest) to acquire a 16.01% interest and WP Honey Wheat lnvestment (Warburg Pincus Group) to acquire a 9.99% interest. The transactions are subject to regulatory processes and approvals.
The above information is a part of company’s filings submitted to BSE.
