HDFC Life announcement

RNS Number : 4774B

Standard Life plc

16 June 2016

 

Standard Life plc

Possible strategic combination involving HDFC Life

Standard Life plc ('Standard Life") notes the announcement today that HDFC Standard Life Insurance Company Limited ("HDFC Life"), Max Life Insurance Company Limited and Max Financial Services Limited have entered into a Confidentiality, Exclusivity and Standstill Agreement to evaluate a possible merger between those parties.

Any transaction, should it proceed, would be subject to applicable board, shareholder, regulatory, court, and other approvals. There is no certainty at this stage that any transaction will proceed and Standard Life will update the market at the appropriate time.

Standard Life currently holds a 35% stake in HDFC Life.

17 June 2016

Enquiries:

Media Enquiries Barry Cameron	[phone]* [phone]
Group Secretariat Paul McKenna	[phone]*
Investor Enquiries Jakub Rosochowski	[phone]* [phone]

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

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