MFS (MSI) has pulled out of share issue talks with Max Life Insurance ( MFS ) and its subsidiary Max Life Insurance ( MSI ), after the three failed to finalise definitive documents. The share of Max Financial Services ended the day at Rs 438.45, gaining Rs 9.70 or 2.26% on BSE. The deal would have given MSI a 19.98% stake in MFS , in exchange for a 21.45% share of MLIC , which MFS would buy from MSI . Although the transaction has been terminated, MFS will continue its joint venture operation with respect to MLIC .
MFS (MSI) has pulled out of share issue talks with Max Life Insurance ( MFS ) and its subsidiary Max Life Insurance ( MSI ), after the three failed to finalise definitive documents. The deal would have given MSI a 19.98% stake in MFS , in exchange for a 21.45% share of MLIC , which MFS would buy from MSI . Although the transaction has been terminated, MFS will continue its joint venture operation with respect to MLIC .