Prudential To Buy Majority Stake in Bharti Life For $365 Million

Prudential PLC agreed to acquire a 75% stake in Bharti Life Insurance Company for an initial cash consideration of 35 billion rupees ($365 million), a deal that would allow the UK-based insurer to tap into India’s vast uninsured middle class looking for financial security and wealth creation.

An additional consideration of up to 7 billion rupees may be payable upon completion of the deal, the companies said in statements on Sunday.