Standard Life plc Possible strategic combination involving HDFC Life (0313P)
November 14 2016 - 2:00AM
UK Regulatory
TIDMSL.
RNS Number : 0313P
Standard Life plc
14 November 2016
Standard Life plc
Possible strategic combination involving HDFC Life
Standard Life plc ('Standard Life") notes the announcement today
by Housing Development Finance Corporation Ltd ('HDFC') with
reference to the scheme of amalgamation proposed by HDFC Standard
Life Insurance Company Limited ('HDFC Life') involving HDFC Life,
Max Life Insurance Company Limited ('MLIC'), Max Financial Services
Limited, and Max India Ltd. An application was filed by MLIC and
HDFC Life seeking the in-principle approval of the Insurance
Regulatory and Development Authority of India ('IRDAI') for the
above-mentioned scheme on September 21, 2016. Standard Life notes
the announcement by HDFC that IRDAI has expressed reservations
regarding accepting the scheme of amalgamation in its current form.
Standard Life further notes that HDFC Life believes that the scheme
of arrangement as submitted to the IRDAI is in compliance with all
applicable laws and that HDFC Life and MLIC propose to make
suitable representations to IRDAI.
12 November 2016
Enquiries:
+44 (0) 131 245 8028*
Institutional Equity +44 (0) 7515 298 608
Investors
Jakub Rosochowski +44 (0) 131 245 6466*
Neil Longair +44 (0) 7711 357 595
Media +44 (0) 131 245 1365*
Steve Hartley +44 (0) 770 293 4651
Group Secretariat
Paul McKenna +44 (0) 131 245 1168*
* Calls may be monitored and/or recorded to protect both you and
us and help with our training. Call charges will vary.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMMMMLMDGVZM
(END) Dow Jones Newswires
November 14, 2016 02:00 ET (07:00 GMT)
Abrdn (LSE:ABDN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abrdn (LSE:ABDN)
Historical Stock Chart
From Apr 2023 to Apr 2024