Monday, May 14, 2007

India's HDFC to buyout Chubb in insurance venture (Reuters)


MUMBAI - India's largest mortgage firm, Housing Development Finance Corp. Ltd. (HDFC.BO: Quote, Profile, Research, said on Tuesday it had agreed to buy out U.S. partner Chubb Corp's (CB.N: Quote, Profile, Research 26 percent stake in their insurance joint venture.

The general insurance firm would now be 100 percent owned by HDFC.

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