-- India's ICICI Bank is mulling the purchase of an additional 3% of ICICI Prudential Asset Management, its joint venture with Prudential PLC, in which it already owns a 51% stake, Bloomberg reports, citing unnamed sources.
-- Last week, Prudential PLC said it was looking into listing the joint venture in a move through which it would partially divest its holding and return proceeds to shareholders.
-- The extra stake will help set the valuation ahead of the potential listing and keep ICICI's holding at 51% after it gives a 3% stake to employees, according to Bloomberg.
-- Prudential declined to comment to Bloomberg while ICICI Bank didn't respond to its request.
Full story: https://tinyurl.com/3b5awvxu
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
February 18, 2025 05:22 ET (10:22 GMT)
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