Mumbai: Mint brings you a recap of top deals news that made headlines this week, reported from newsrooms across the countryWarburg, Premji to buy $432 million SBI insurance arm stakeInsurance Australia Group Ltd (IAG) is looking to sell its entire 26% stake in SBI General Insurance (SBIG) to Warburg Pincus and Premji Invest for $432.38 million, Mint reported on 18 October. While Premji Invest has agreed to acquire 16% in the general insurer, Warburg Pincus plans to buy the remaining 10%. The country’s largest lender, State Bank of India (SBI), will continue to own 70% in its general insurance arm. LGT Lightstone Aspada, the world’s largest family-owned private banking and asset management group, has already invested around $180 million in India, including a $12 million investment in Lithium Urban Technologies Pvt. ICICI Lombard General Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Federal Bank and Bridge India Fund are expected to sell their stakes, partially or fully, during the IPO.

Source: Mint October 19, 2019 10:52 UTC