Corporate News 05-Jun-24
RBI oks Zurich Insurance Company's acquisition of 70% stake in Kotak General
Kotak Mahindra Bank announced that the Reserve Bank of India has approved the proposed acquisition of 70% stake in Kotak Mahindra General Insurance Company by Zurich Insurance Company. The transaction will be a combination of primary and secondary acquisitions, for a total consideration of approximately Rs. 5,560 crore. All regulatory approvals required for the transaction have now been received and the transaction will be completed upon fulfilment of other conditions precedent.
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