Carlyle Group and GIC are buying a 10 percent stake in SBI Life Insurance Co from BNP Paribas Cardif for $742 million, the Economic Times said. Carlyle and GIC beat out bids from KKR and Temasek, the story said. The proposal from Carlyle and GIC has been sent to the Insurance Regulatory and Development Authority (Irda) for approval, ET said.
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