BNP Paribas Sells 5% Stake in SBI Life Insurance
01 April 2019 - 6:46PM
Dow Jones News
By Pietro Lombardi
BNP Paribas SA (BNP.FR) has further reduced its stake in SBI
Life Insurance Co. Ltd. (540719.BY), its Indian joint venture with
the State Bank of India.
The French bank's insurance arm, BNP Paribas Cardif, has sold a
roughly 5% stake in the company, cutting its holdings to 7.7%, BNP
said Friday.
France's largest listed bank by assets, which has been reducing
its stake in the joint venture, said it expects to post a capital
gain on the sale of about 300 million euros ($336.5 million) in its
first-quarter results.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
April 01, 2019 03:31 ET (07:31 GMT)
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