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Indian Private Equity Firm to Acquire Religare Health Insurance

Image for representation purpose only.

Image for representation purpose only.

The deal, which still needs regulatory approvals, values the Religare Health Insurance at 13 billion rupees ($202.3 million).

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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 the Religare Health Insurance at 13 billion rupees ($202.3 million).

The move is part of Religare's strategy to consolidate and focus on its core business of financial services.

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

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

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  • First Published: April 10, 2017, 8:40 AM IST
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