Follow Us:
Wednesday, January 22, 2020

Bupa to acquire extra 23% stake in Max Bupa

Max India’s shares closed at Rs 555.65 per share, down Rs 22.90 or 3.96 per cent.

By: ENS Economic Bureau | Mumbai | Published: November 24, 2015 1:42:37 am

British health insurance company Bupa will acquire an additional 23 per cent stake in Max Bupa Health Insurance from its Indian joint venture (JV) partner Max India, the latter said in a stock exchange filing.

UK’s Bupa will pay Analjit Singh-promoted Max India Rs 191 crore in an all-cash transaction.

Max India’s board has approved the divestment and new agreements will come into force after receiving requisite regulatory clearances from the Foreign Investment Promotion Board and the Insurance Regulatory and Development Authority of India (Irda).

Share This Article
Share
Related Article

“To further strengthen the relation with the JV partner in Max Bupa, the board of directors has decided to divest 23 per cent stake in favour of UK’s Bupa,” the company stated in a stock exchange filing.

Max India’s shares closed at Rs 555.65 per share, down Rs 22.90 or 3.96 per cent. FE

For all the latest Business News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement