Standard Life is ready to list its Indian joint venture, according to media reports. However, no time frame is provided for listing.
Standard Life has ruled out an outright sale of HDFC Life, the UK group’s joint venture. In 2008, Standard Life raised its stake in HDFC Life to 26% in a deal that valued the venture at about $360 million, and at that time said it intended to list 10% of the venture in 2009, the reports added.
Standard Life is also working to set up its international offshore wealth business through offices in Hong Kong that serve Japan and North Asia and a new office in Singapore to serve southeast Asia and India, the reports concluded.