“Over the past few weeks, Samara Capital and Aditya Birla Capital (Promoters of Aditya Birla Insurance Brokers Ltd.) are in talks at valuation. For Samara, entering the financial services business is an important part of its strategy,” Livemint quoted sources as saying.
deal According to reports, its price is estimated to be between Rs 800 crore and Rs 1,000 crore. If the deal goes through, it could become one of the biggest deals in the sector.
This was reported by Bloomberg last week. Aditya Birla Capital considering selling it insurance brokerage The entity will restructure its financial services business.
“The publicly traded company is in talks with potential buyers about the sale of Aditya Birla Insurance Brokers Ltd after it failed to scale up the 19-year-old business,” Bloomberg quoted sources as saying.
According to a Bloomberg report, the company plans to close the transaction by March 31.
The broking arm of Aditya Birla Capital provides reinsurance solutions to insurers as well as broking and advisory services to corporates and individuals. It employs more than 350 people across 11 locations in India.