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Bharti to buy out AXA in life JV
Mint Mumbai
|October 12, 2023
Bharti Group on Wednesday said it has entered into a binding agreement with its joint venture partner AXA to acquire its 49% stake in Bharti AXA Life Insurance.
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Post transaction, Bharti Life Ventures Private Ltd (BLVPL), the holding company of Bharti AXA Life Insurance Co., will own 100% stake in the life insurer.
Currently, France-based AXA owns 49% stake in the joint venture with Bharti.
The transaction is subject to receipt of requisite regulatory approvals, Bharti Group said in a statement.
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