Profit

Private Equity Firm To Buy Religare Health Insurance

 Share
EMAIL
PRINT
COMMENTS
Private Equity Firm To Buy Religare Health Insurance

The deal values Religare Health Insurance at Rs 1,300 crore. (Representational image)


New Delhi: A consortium of investors led by Indian private equity fund True North has agreed to acquire Religare Enterprises Ltd's health insurance business in the country, the groups said in a joint statement on Sunday. The deal, which still needs regulatory approvals, values Religare Health Insurance at Rs 1,300 crore ($202.3 million). The move is part of Religare's strategy to consolidate and focus on its core business of financial services.

The transaction "marks the single largest investment in a standalone health insurance company in India", Religare and True North said in a release.

J.P. Morgan acted as the exclusive financial advisor to Religare Enterprises on the transaction.

($1 = Rs 64.2660)
© Thomson Reuters 2017


Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top