EDINBURGH (dpa-AFX) - Standard Life plc. (SL.L) announces that, following the passing of the Insurance Laws (Amendment) Act 2015 by the Indian Parliament, terms have been agreed with HDFC to seek regulatory approval to take an increased stake in HDFC Standard Life Insurance Company Limited for a consideration of about 169 million pounds. This would take the total stake from 26% to 35%.
The conclusion of the transaction is subject to regulatory approvals, including the Competition Commission of India; the Foreign Investment Promotion Board; Insurance Regulatory and Development Authority of India.
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