Standard Life May Propose HDFC Life IPO If Max Life Merger FailsBy
Standard Life Plc said it may pursue an initial public offering of its Indian joint venture if a plan to merge the unit with another company falls through.
The country’s regulator has expressed concerns about HDFC Life’s potential merger with and Max Life Insurance Co. since last year. On Thursday, the Indian insurers said they remain committed to doing a deal and are evaluating various options. In a later statement, Standard Life said there’s no certainty that any such options are viable.
“In which case, Standard Life intends to propose an IPO of HDFC Life at the earliest possible opportunity, subject to appropriate market conditions,” the company said.
Standard Life was little changed in London trading, after gaining as much as 2.6 percent earlier.