Bandhan Financial Holdings (BFHL) has entered into an agreement to acquire the entire stake of Aegon and Bennett, Coleman & Co. Ltd (BCCL) in Aegon Life Insurance.
The insurance buyout will allow Kolkata-based Bandhan, which began as a microfinance company, to expand its remit beyond banking and asset management. The stake purchase is subject to regulatory approvals. The value of the buyout, and the quantum of proceeds to each of the exiting stakeholders, weren’t immediately known.