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Bajaj Group to buy 26% each in insurance businesses from Allianz Bajaj Finserv to acquire 26% stake from Allianz in Bajaj Allianz Life & Bajaj Allianz General Insurance Mumbai: The Bajaj Group will buy out Allianz SE's stakes in their two insurance joint ventures for a total of ₹24,180 crore, marking the end of its 24-year partnership with the world's largest insurer. In a late-night statement, Sanjiv Bajaj-led Bajaj Finserv said the company and other promoter firms will acquire the stakes of the German insurer in Bajaj Allianz General Insurance Co. and Bajaj Allianz Life Insurance Co. for ₹13,780 crore and ₹10,400 crore respectively. Currently, Allianz owns 26% stake in both companies while Bajaj holds the rest. “The execution of the share purchase agreements (SPAs) mark the culmination of constructive and amicable discussions to ensure a seamless transfer of the stake of Allianz,” Bajaj Finserv said...if you want to know more click 👇 below the link
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