Bank of Baroda to acquire Union Bank’s 21% stake in IndiaFirst Life
Bank of Baroda (BoB) board has approved acquisition of a 21% stake of Union Bank of India in IndiaFirst Life Insurance, subject to regulatory approvals.
On completion of the transaction, BoB will hold a 65% stake in IndiaFirst Life, Union Bank will hold 9% and Carmel Point Investments India will have the remaining 26% stake.