LIC may acquire IDBI Bank's real estate assets, says report
Updated : June 26, 2018 12:08 PM IST
IDBI Bank’s real estate assets, including properties in Cuffe Parade, the Bandra Kurla Complex and Worli in Mumbai, are likely to be a part of the stake sale with Life Insurance Corporation of India (LIC) or acquire the assets separately beside the deal, The Economic Times reported.
“A separate entity may be spun off to manage the properties of IDBI Bank,” senior officials told the paper on Tuesday, adding that LIC approached the government with an offer to acquire the lender and not the other way around.
LIC is likely to have the option of acquiring the properties separately or get a stake in the entity that will hold the physical assets proportionate to the holding it purchases in the lender, the report said.