June 28, 2018 / 4:25 AM / 23 days ago

India seeks bids from consultants for state insurance firms' merger

MUMBAI, June 28 (Reuters) - Three Indian state-owned non-life insurance companies, which the government plans to merge into a single company, sought interest on Thursday from consultants to advice them on the deal, according to a public notice.

In February, the finance minister in his annual budget announced the plan to merge National Insurance Co Ltd, Oriental Insurance Co Ltd and United India Insurance Co Ltd.

The companies are not publicly traded. (Reporting by Nidhi Verma; Editing by Krishna N. Das)

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