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Exide Industries Ltd Announces Acquisition Of ING Vysya Life Insurance Company Limited

Friday, 22 Mar 2013 03:29am EDT 

Exide Industries Ltd announced that the Company previously held 50% of the Equity Shares of ING Vysya Life Insurance Company Limited (IVL). The Company has pursuant to regulatory approvals on March 22, 2013 acquired the remaining 50% of the equity capital of IVL (26% from ING Group, 16.32% from the Hemendra Kothari Group and 7.68% from the Enam Group) for an aggregate consideration of approximately INR5.5 billion. Consequently, ING Vysya Life Insurance Company Limited has now become a 100% subsidiary of Exide. 

Company Quote

-4.7 -2.60%
5:16am EST