Corporate News 28-Apr-20
Board of Max Financial Services approves sale of 29% stake in Max Life to Axis Bank
At meeting held on 27 April 2020
The Board of Max Financial Services at its meeting held on 27 April 2020 has approved to enter into definitive agreements with Axis Bank for the sale of 29% of the equity share capital of Max Life Insurance Company, a material subsidiary of the company to Axis Bank which will have the effect of Max Life becoming a 70:30 joint venture between the Company and Axis Bank after series of transactions.
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