For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    DLF in talks with Dewan Housing to sell majority stake in life insurance venture: Media Reports

    By Religare
    |
    DLF in talks with DHFCL to sell stake in life insurance
    DLF Ltd, India's biggest real estate firm, is in talks with Mumbai-based Dewan Housing Finance (DHFL) to sell a majority stake in DLF Pramerica Life Insurance Company, a joint venture with US-based Prudential Financial, said media reports.
     

    The reports said that while valuations have not been finalized yet, but DLF may exit with marginal premium over its investment of Rs 235 crore made to acquire 74 per cent stake in the venture. The Prudential Financial, US's second biggest insurance firm, hold 26 per cent stake in the venture.

    DLF and Prudential earlier had plans to rope in HCL as Indian partner. However, that plan was called off as HCL had some issues with conditions of US partner. DLF has been exiting its non-core businesses as a part of its strategy to focus on realty business and retire its mounting debt burden.

    Read more about: dlf
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more