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Kotak Mahindra to Buy Out Entire 26% of Old Mutual’s JV Stake

Kotak Mahindra Bank Limited has entered into an agreement to purchase the entire 26% equity stake held by Old Mutual plc, UK (OM) in Kotak Mahindra Old Mutual Life Insurance Limited (”Kotak Life”) for a consideration of Rs. 1,292.7 crore, subject to all regulatory and other approvals. After the completion of the transaction, Kotak Mahindra Group will hold 100% of the equity shareholding of Kotak Life.

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