Kotak Mahindra Bank buys out Old Mutual from insurance arm for Rs 1,292 crore
The fourth largest private sector lender will become the 100 percent owner of the 16-year-old Kotak Mahindra Old Mutual Life Insurance post acquisition, which bucks the trend of foreign partners increasing their stakes after foreign holding norms were hiked to 49 percent in December 2015.
Apr 28, 2017, 09:57 AM IST