HDFC to buy 51.2% in Apollo Munich Health for ₹1,347 crore

HDFC to buy 51.2% in Apollo Munich Health for ₹1,347 crore

Housing Development Finance Corporation (HDFC) on Wednesday announced that it would be acquiring 51.2 per cent stake in Apollo Munich Health Insurance and would be later merging it with its general insurance arm HDFC Ergo. The two-stage transaction, which is subject to regulatory approvals, is priced at about ₹1,347 crore. HDFC will pay about ₹73.2 per share to Apollo Hospitals for the acquisition.

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