17th Jun 2016 06:58
LONDON (Alliance News) - Standard Life PLC on Friday said HDFC Standard Life Insurance Co Ltd, Max Life Insurance Co Ltd and Max Financial Services Ltd have entered into merger talks.
HDFC Standard Life is the FTSE 100-listed life insurer and investment manager's Indian unit, in which it holds a 35% stake. The two Max businesses are India-based financial services firms.
Standard Life said any deal would be subject to board, shareholder, regulatory, court and other approvals and added there is no certainty any deal will proceed at the current time.
By Sam Unsted; [email protected]; @SamUAtAlliance
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