Reliance Capital Completes Unit Stake Sale to Nippon Life

Reliance Capital Ltd. (RCAPT) has completed sale of a 26 stake in its unit Reliance Life Insurance to Nippon Life Insurance Co., Japan’s biggest life insurer, according to an e-mailed statement.

Reliance Capital got 30.62 billion rupees ($623 million), according to the statement.

To contact the reporters on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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