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Indian PE firm True North to acquire Religare Health Insurance

Reuters / 10 Apr 17 | 10:11 AM

Religare

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.

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The deal, which still needs regulatory approvals, values the Religare Health Insurance at Rs 1300 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, 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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