RPT-Japan's MS&AD close to buying 26 pct of India life JV-source

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TOKYO, April 12 (Reuters) - Japan's MS&AD Insurance is close to agreeing to buy a 26 percent stake in an Indian life insurance joint venture between New York Life and Max India for about 28 billion rupees ($544 million), a source familiar with the matter said on Thursday.

The three are likely to finalise the negotiation as early as on Thursday, said the source, who was not authorised to discuss the matter publicly. ($1 = 51.4400 Indian rupees) (Reporting by Taiga Uranaka; Editing by Michael Watson)