Nippon Life to Increase Stake in Reliance Capital to 49%

October 21, 2015

On October 13, 2015, Nippon Life Insurance Company announced that it had reached a definitive agreement to increase its ownership in Reliance Capital Asset Management Limited from 35% to 49%.

Nippon Life Insurance Company (“Nippon Life”) exercised its right to purchase up to 49% of Reliance Capital Asset Management Limited (“Reliance Asset”) pursuant to Nippon Life’s November 2014 agreement with parent company Reliance Capital Limited. Nippon Life will purchase the additional 14% stake for approximately 12 billion Indian rupees, or about $183.4 million.

Reliance Capital will be renamed “Reliance Nippon Life Asset Management” as part of the transaction, which remains subject to regulatory approval.

To read the press release: please click here.


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Investment Manager Strategic Investments, Transactions