Track2Realty: DLF Ltd has signed definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture – DLF Pramerica Life Insurance Company Ltd, a joint venture with Prudential International Insurance Holdings Ltd (“PIIHL”), a subsidiary of Prudential Financial, Inc USA “PFI” to Dewan Housing Finance Corporation Ltd (“DHFL”) & its group entities.
As these agreements are subject to regulatory approvals, hence the transaction consideration shall be disclosed post receipt of all such approvals.
Ashok Tyagi, Group CFO, DLF Ltd said, “This transaction is in line with our ongoing strategy to divest non-core businesses/ assets. We have had a very cordial relationship with PIIHL and wish them the best in their new partnership with DHFL.”
