Prudential to buy majority stake in Bharti Life for 35 billion rupees
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Prudential has agreed to acquire a 75% stake in Bharti Life Insurance for 35 billion rupees, aiming to access India's uninsured middle class. An additional 7 billion rupees may be payable upon deal completion. The acquisition will reduce Bharti Enterprises' stake to 25% and requires regulatory approval, including a reduction of Prudential's stake in ICICI Prudential Life to under 10%. The deal is expected to create new opportunities for Bharti Life's employees and strengthen UK-India relations.
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