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J&K Bank to sell stake in PNB Metlife for Rs 185 crore

Updated : March 17, 2019 03:40 PM IST

The bank has executed share purchase agreement with Oman India Joint Investment Fund II for sale of 4.1 crore shares of PNB MetLife India Insurance Company Ltd.
Jammu and Kashmir Bank holds 5 percent stake in the insurance venture. PNB MetLife India Insurance is a joint venture between MetLife International Holdings Inc, Punjab National Bank, Jammu and Kashmir Bank, M Pallonji and Company Pvt Ltd and other private investors.
J&K Bank to sell stake in PNB Metlife for Rs 185 crore
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