Mumbai: Tata Sons and AIA Group Limited (AIA) today announced an agreement, under which AIA will increase its shareholding in Tata AIA Life Insurance Company, a joint venture company formed by Tata Sons and AIA, from the current level of 26 per cent to 49 per cent through the purchase of a 23 per cent stake in the company. The completion of the transaction is subject to securing all necessary regulatory and governmental approvals.
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