MetLife to hike stake in India JV to over 42%

New York-based insurer MetLife is set to increase its stake in its Indian life insurance joint venture PNB MetLife by acquiring 15.27% held by the Dabriwala family, for Rs 1,906 crore, the firm announced on Monday. The move, which values PNB MetLife at around Rs 12,480 crore, will be subject to regulatory approvals from both the Competition Commission of India and the Insurance Regulatory and Development Authority of India (Irdai).

via Economictimes