Carlyle Sells Partial Stake in SBI Life for USD392 Million
Posted On: 19 Nov 2019 | Source(s): AVCJ | Author(s): Tim Burroughs
Global alternative asset management firm The Carlyle Group has completed a partial exit of Bombay Stock Exchange-listed life insurance company SBI Life Insurance, selling 30 million shares representing a 3 percent stake for INR938.83 (approximately USD13) per share and retuning INR28.2 billion (USD392 million). Carlyle acquired a 9.2 percent stake in SBI Life in March 2019. Global alternative investment manager KKR also sold a portion of its stake in the company in August 2019.