Samara Capital frontrunner to buy Aditya Birla Capital's insurance broking arm: Report
If Samara Capital's negotiations with Aditya Birla Capital go through, the deal could be one of the largest transactions to have occured in the insurance broking space.
Amazon's Indian private equity partner Samara Capital is looking to buy the insurance broking arm of Aditya Birla Capital Ltd, Livemint reported on December 19 quoting two people aware of the discussions.
“Over the past few weeks, Samara Capital and Aditya Birla Capital (the promoter of Aditya Birla Insurance Brokers Ltd) have been negotiating the valuation. For Samara, entering the financial services business is a crucial part of its strategy," one of the people privy to the matter said.
Moneycontrol could not independently verify the report.
Samara Capital has also made an offer for the insurance broking arm, the report said. The value of the deal has been estimated to be between Rs 800 crore and Rs 1000 crore, the sources disclosed. If the deal goes through it is likely that it could be one of the biggest deals in the insurance broking sector.
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