SUD was incorporated in 2007 as a partnership between Bank of India, Union Bank of India and DILIC to conduct life insurance business in India.
According to the partnership deal between BOI, Union Bank of India and DILIC, the Japanese life insurer had an option to acquire 18 per cent additional stake in SUD upon change in law related to higher stake by foreign partners in their Indian partnerships, allowing them to increase their stake to 49 per cent from tha earlier cap of 26 per cent.
's shareholding will be 44 percent, up from 26 percent upon completion of the transaction.
The shareholding of DILIC
will be 44 percent, up from 26 percent upon completion of the transaction after receiving necessary statutory/regulatory approvals, Bank of India said, adding that the bank's shareholding will reduce to 30 percent, from 48 percent earlier.
M, Nalbantic DA, Arslanagic A, Huskic J, Brdjanovic S, Kulic M, et al.