Public-sector Bank of India, which has formalised an agreement with Dai-Ichi of Japan for setting up a Rs 250-crore life insurance firm, will have a 51 per cent stake in the joint venture, a top bank official said on Friday.
Dai-Ichi, the sixth biggest life insurer in Japan, will have a 26 per cent stake in the JV, while another partner Union Bank of India will hold 23 per cent, BOI Executive Director K R Kamath told a press meet here.
The name of the company, is likely to be 'Star Union Dai-Ichi' and the registration process was going on, he said.
Read more in The Economic Times article.
No comments:
Post a Comment