BNP Paribas Cardif is set to acquire Warburg Pincus’ 26% stake in IndiaFirst Life, according to reports. After the transaction, Bank of Baroda is expected to retain a controlling 65% ownership interest in IndiaFirst Life. The remaining stakes are held by other shareholders, including Union Bank of India with a stated 9% stake in one report. BNP Paribas Cardif is then expected to own about 26% of the life insurer. The deal changes the stake distribution by transferring Warburg Pincus’ share to BNP Paribas Cardif while keeping Bank of Baroda as the majority shareholder. The outlets also describe the ownership structure post-closing as a combination of Bank of Baroda’s majority stake, Union Bank of India’s minority stake, and BNP Paribas Cardif’s acquisition of the 26% previously held by Warburg Pincus.
BNP Paribas Cardif to buy Warburg Pincus’ 26% stake in IndiaFirst Life
BNP Paribas Cardif is set to acquire Warburg Pincus’ 26% stake in IndiaFirst Life, according to reports. After the transaction, Bank of Baroda is expected to retain a controlling 65% ownership interes...
- BNP Paribas Cardif will acquire Warburg Pincus’ 26% stake in IndiaFirst Life.
- Bank of Baroda will retain a 65% stake after the transaction.
- One report says Union Bank of India will hold 9% post-deal.
- BNP Paribas Cardif is expected to hold about 26% after closing.
Post-deal, state-run Bank of Baroda will own 65% of the company, its public sector banking peer Union Bank of India will be at 9%, while the rest will be with BNP Paribas Cardif.
1 day agoFollowing the transaction, Bank of Baroda will retain a 65% stake in IndiaFirst Life, while BNP Paribas Cardif will hold around 26%.
2 days ago
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