MUMBAI: Bank of Baroda, India’s third-largest state-run bank by assets, is considering a sale of some of the minority stakes it holds in its insurance and asset-management ventures, according to people familiar with the matter.
The Mumbai-based bank is seeking to pare its 44% stake in IndiaFirst Life Insurance Co and the 49% stake in Baroda Pioneer Asset Management Co, the people said, asking not to be identified as the information isn’t public. They didn’t give a time frame for executing the sales.
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