Business
As per the pact, Nippon Life will invest about $680 million to acquire a 26 per cent stake in Reliance Life.
Updated : Mar 18, 2018, 04:12 AM IST
Reliance Capital said on Friday it has got the Reserve Bank of India's approval for stake sale in Reliance Life Insurance to Japan's Nippon Life Insurance.
As per the pact, Nippon Life will invest about $680 million to acquire a 26 per cent stake in Reliance Life.
The deal is expected to close very shortly, it said.