Mumbai: HDFC Life Insurance Co. Ltd and Max Life Insurance Co. Ltd have extended the deadline for the merger talks till 31 July and are working on a new merger structure after the insurance regulator ejected the original three-step union, said two people with knowledge of the discussions. The board of HDFC Life, meeting on 17 July, will consider this new structure, they said on condition of anonymity. More From Livemint »Under the new structure, Max Life and HDFC Life will merge to form a new company, tentatively called HDFC Plus. If the board of HDFC Life approves the new scheme and it is supported by the board of Max Life as well, the two companies will submit a fresh scheme of amalgamation to Irdai, which will lead to automatic listing of HDFC Life. HDFC Life had appointed merchant bankers around a year ago.

Source: Mint July 12, 2017 20:15 UTC