Up to 90 percent of SLIC is up for grabs with the government keen to get a reputed investor to manage the life and general insurance giant.
rnThe Potential investors would get management control with a possible option to buy the ten percent stake held by the employees.
rnThe formal sale process is expected to start in mid-September after a shortlist is announced.
rnForeign investors are allowed to own up to 100 percent in local insurance companies.
rnThe sale will go through later this year and will play a key role in the government
quote s effort to raise 21 billion in privatization receipts.rnrn