Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance

In November last year, Zurich Insurance Company announced plans to acquire a 51 per cent stake in Kotak Mahindra General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional stake of 19 per cent within three years from the initial acquisition for Rs 5,560 crore.
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