Announced
HDFC to acquire of Exide Life for $915m.
Synopsis
HDFC, a life insurance company, agreed to acquire Exide Life, a rival life insurance company, for $915m. "This is a landmark transaction, first of its kind, in the Indian life insurance space. It would enhance insurance penetration and further our purpose of providing financial protection to a wider customer base," Deepak Parekh, HDFC Life Chairman.
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