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ICICI Bank completes sale of 9% stake in insurance JV

ICICI BankLtd. said April 1 that it sold a 9% in to joint venture partner FairfaxFinancial Holdings Ltd.

The bank completed the transfer of shares March 31. FairfaxFinancial will now hold a 35% stake in the joint venture, while ICICI Bank willhold a 64% stake.

The transfer also constitutes a 2% stake in ICICI PrudentialLife Insurance Co. to Compassvale Investments Pte. Ltd.