finance
Prudential to Acquire 75% Stake in Bharti Life Insurance for $365 Million
Prudential agreed to purchase a 75 percent stake in Bharti Life Insurance. The transaction carries an initial cash payment of $365 million and targets India's uninsured middle class.
May 17, 10:58 AM·1m read1 source
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Prudential agreed to acquire a 75 percent stake in Bharti Life Insurance for an initial cash consideration of $365 million. The transaction gives the UK-based insurer access to India's uninsured middle class.
The agreement covers the initial cash payment of $365 million.
No additional financial details were disclosed in the announcement.
India maintains a large population segment without life insurance coverage. The acquisition is intended to address that segment.
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