Bandhan Group and Mumbai-based financial services major IIFL are in the race to acquire Aegon Life Insurance from the Netherlands-based Aegon NV and Bennett, Coleman &. Co, the publisher of Times of India.
The life insurance company, which has remained a laggard in the Indian insurance sector, is expected to fetch Rs 350 - Rs 400 crore through the sale, a source close to the development said.
Aegon group currently holds 49 per cent stake in the company while BCCL owns around 47 per cent. The rest is held by the employees.
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