Six private equity firms including Singapore sovereign wealth fund GIC have been shortlisted to buy a 26% stake in SBI General Insurance Company Ltd, as per the information from source. PremjiInvest, Carlyle are ChrysCapital are among the potential buyers for the stake that Insurance Australia Group is planning to sell, said two people close to the development.
The source informed that the estimated size of the deal around Rs 3,000 crore, which would value SBI General Insurance around Rs 12,000 crore. Goldman Sachs is running the sale process and the deal could be announced within a couple of weeks, the source further informed.
One of the sources has stated, “The deal is in the final stages and will be announced in a couple of weeks, after which they (the stakeholders concerned) will go to the insurance regulator for approvals.”
