- Current Affairs 18th March 2019. J&K Bank on 17 March said it proposes to sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund-II for Rupees 185 crore.
- According to the Jammu and Kashmir Bank, it has executed a share purchase agreement with Oman India Joint Investment Fund-II for sale of 4.1 crore shares of PNB MetLife India Insurance Company Ltd.
- The J&K Bank holds a 5% stake in the insurance venture.
About PNB MetLife India Company
PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India. PNB MetLife has as its shareholders MetLife International Holdings LLC (MIHL), PNB, J&K Bank, M. Pallonji and Company Private Limited and other private investors, MIHL and PNB being the majority shareholders.
- MD & CEO: Ashish Kumar Srivastava
- Established in India: 2001
- Regional Headquarters: Hong Kong
Source: The Hindu Businessline
Published On : 18 Mar 2019
Current Affair
