Bharti Group will acquire French insurer AXA’s 49% stake in Bharti AXA Life Insurance, reported Reuters quoting the Indian conglomerated.
The acquisition, when completed, will give Bharti Group full control of a venture that was jointly run for nearly two decades.
Bharti said it was in talks with other investors to scale up the business by partnering or combining with their entities.
AXA and Bharti did not immediately respond to Reuters’ requests for additional information on the deal nor did they disclose the financial details.
The deal, made through Bharti Life Ventures, is expected to close by December this year, subject to regulatory approvals.
