1st Apr 2016 06:18
LONDON (Alliance News) - Life insurance and investment management group Standard Life PLC on Friday said it has secured regulatory approval to increase its stake in its Indian joint venture.
Standard Life has spent GBP179.0 million to increase its stake in HDFC Standard Life Insurance Co Ltd to 35% from 26% previously. The company is a joint venture with HDFC Ltd, the Indian financial group.
"We are delighted that we have obtained the approvals necessary to increase our stake demonstrating our long-term commitment to India and the future success of HDFC Life," said Standard Life Chief Executive Keith Skeoch.
By Sam Unsted; [email protected]; @SamUAtAlliance
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