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Reliance Capital gets RBI nod to sell stake in Reliance Life

As per the pact, Nippon Life will invest about $680 million to acquire a 26 per cent stake in Reliance Life.

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Aniruddha Basu

Updated: Mar 18, 2018, 04:12 AM IST

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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.

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