IDBI Bank has entered a Share Purchase Agreement (SPA) with Ageas Insurance International NV (Buyer) on 19 May 2022 to sell IDBI Banks entire stake of 20,00,00,000 equity shares in Ageas Federal Life Insurance Company (AFLI) pursuant to exercise of Call Option by Ageas. The transaction would be concluded subject to regulatory approvals. The transaction is expected to be completed in Q2 FY 2023. IDBI Bank is expected to receive up to Rs 580.20 crore from sale of 25% stake in AFLI to Ageas. Powered by Capital Market – Live News
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