US- based private equity firm Warburg Pincus is reportedly in discussions to sell its 10% stake in SBI General Insurance, the general insurance arm of State Bank of India, according to a Bloomberg News report, citing sources familiar with the matter.
The firm is said to be negotiating with Premji Invest—the investment vehicle of Indian billionaire Azim Premji—and SBI, India’s largest lender, as potential buyers for the stake.
The transaction could value SBI General Insurance at as much as $4.5bn, Bloomberg News reported.