True North-led consortium acquires Religare Health Insurance for Rs 1,040 cr

A consortium of investors led by True North (formerly India Value Fund) has acquired Religare Enterprises' entire stake in Religare Health Insurance Co Ltd (RHI).

Prior to this deal, Religare Enterprises held 80 per cent (on a diluted basis) in RHI, which was the health insurance vehicle of the Religare Group.

This transaction values RHI at Rs. 1,300 crore and marks the single largest investment in a standalone health insurance company in India, said a statement issued by Religare Enterprises' on Sunday evening. The statement however did not disclose the exact deal value.

Source : BL.com