HDFC ERGO to buy Apollo Munich for Rs.1,347 crore

Housing Development Finance Corporation (HDFC) signed an agreement with Apollo Munich Health Insurance to acquire the entire stake of the Apollo Hospitals group from 51.2% for Rs.1,347 crore.
Apollo Munich is a 51:49% joint venture between Chennai-based Apollo Hospitals and German reinsurance company Munich Re.
HDFC ERGO is a 51:49% joint venture between HDFC and ERGO International AG, a Germany-based company that is part of the Munich Re Group.

Published On : 21 Jun 2019