Swiss Re interested in buying Oriental Bank of Commerce's stake in insurance JV
Updated : January 10, 2019 01:33 PM IST
The Zurich-based reinsurer has submitted its expression of interest (EoI) to acquire OBC’s 23 percent stake in Canara HSBC Oriental Life Insurance, which will value the insurance JV at about Rs 6,500 crore.
ICICI Securities, the sole banker to the transaction, expects non-binding bids from interested buyers by the end of January.
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