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Carlyle set to buy 'strategic stake' in SBI Life Insurance, says report

Carlyle set to buy 'strategic stake' in SBI Life Insurance, says report

By CNBC-TV18 Dec 18, 2018 9:47:56 AM IST (Published)

Carlyle is set to buy a strategic stake in SBI Life Insurance Co as BNP Paribas looks to cut its stake to meet regulatory terms for public float, reported The Economic Times.

Carlyle is set to buy a strategic stake in SBI Life Insurance Co as BNP Paribas looks to cut its stake to meet regulatory terms for public float, reported The Economic Times.

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US private equity firm Carlyle is likely to face stiff competition from peers such as KKR and Singapore's Temasek Holdings, the report said citing people aware of the development.
The talks are for BNP's 22 percent stake in SBI Life and the French insurer is likely to sell up to 10 percent stake in the first tranche, said the report.
The transaction is likely to happen at a slight discount to current share price of SBI Life, which was trading down 0.6 percent at Rs 585 on the Bombay Stock Exchange on Tuesday.
 
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