InvestorQ : What is the news on the merger of Bharti AXA and ICICI Lombard?
sanjana Tulsiani made post

What is the news on the merger of Bharti AXA and ICICI Lombard?

Answer
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Nikita Damle answered.
3 months ago


It has been in the news that Bharti AXA General and ICICI Lombard are likely to get into a merger for Rs 2,600 crore, all-stock transaction, and the deal is supposed to be closed soon. It is more likely that the French insurance and asset management company AXA, holding a 49 percent stake in the company, may exit the general insurance business once the deal would be closed.

The two companies are getting into this merger because both the companies are facing low revenue generation and premiums are constantly declining. However, the deal shall only be closed when all the requisite regulatory approvals shall be received by the companies going under the merger.