"The agreements have been reached with Napean Opportunities LLP (an affiliate of Premji lnvest) to acquire a 16.01 per cent interest and WP Honey Wheat lnvestment Ltd (Warburg Pincus Group) to acquire a 9.99 per cent interest," SBI said.
The transactions are subject to regulatory processes and approvals.
SBI General, valued at over Rs 12,000 crore recently, is a joint venture between SBI and Insurance Australia Group.
Last month, SBI Chairman Rajnish Kumar has said the bank has dropped its plan to take its general insurance arm public as there is no need for additional capital now.
Shares of were trading 0.70 per cent higher at Rs 257.70 apiece on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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