Blackstone, JC Flower, Fortress, Temasek and 3i in talks with LIC
Global private equity investors Blackstone, JC Flower and Fortress of the US, Temasek of Singapore and 3i of the UK are in talks with the Life Insurance Corporation of India (LIC) for buying a combined 15 per cent stake in the life insurer’s proposed credit card venture with US-based GE Money.
The valuation of the proposed company is still to be worked out. LIC will own a 40 per cent stake, GE Money India 30 per cent and Corporation Bank, LIC Housing Finance and LIC Mutual Fund 5 per cent each.
(Source: Business Standard)
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