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Housing Development Finance completes sale of JV stake to Standard Life

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Housing Development Finance completes sale of JV stake to Standard Life

HousingDevelopment Finance Corp. Ltd. said April 1 that it completed thesale of a 9% stake in joint venture HDFC Standard Life Insurance Co. Ltd. to U.K.-based partnerStandard Life Plc.

Following the transaction, Standard Life's stake in HDFC Standard LifeInsurance increased to 35% from 26%.