Bharti to sell entire stake in AXA JVs to Reliance Ind | business | Hindustan Times
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Bharti to sell entire stake in AXA JVs to Reliance Ind

business Updated: Jun 10, 2011 20:15 IST

Bharti Enterprises said on Friday it would sell its entire stake in two insurance joint ventures with AXA to Mukesh Ambani-controlled Reliance Industries Ltd.

Bharti will use the proceeds from the sale towards other group businesses in India and abroad, it said in a statement.

Bharti entered into the joint ventures with the AXA Group in 2006 and held a 74 percent stake in both these ventures - Bharti AXA Life Insurance and Bharti AXA General Insurance.