CCI clears Star Health acquisition by WestBridge, Rakesh Jhunjhunwala

Published On 2019-04-07 03:45 GMT | Update On 2019-04-07 03:45 GMT

New Delhi: Fair trade regulator CCI Thursday said it has approved a deal involving the acquisition of over 90 per cent stake in Star Health and Allied Insurance Company by WestBridge AIF I, Rakesh Jhunjhunwala and others.

In a tweet, CCI said it "approves the acquisition of 90.57 per cent of equity share capital in Star Health and Allied Insurance Company Limited by WestBridge AIF I, Rakesh Jhunjhunwala and Ors".

A consortium led by WestBridge AIF, Rakesh Jhunjhunwala and Madison Capital had last year signed definitive agreements with the shareholders of Star Health to purchase the firm.

The Chennai-based insurer was founded in 2006 and provides health insurance, overseas mediclaim and personal accident policies.

According to the company, it has a network of 434 branches, 2.4 lakh agents and tie-up with 8,500 network hospitals.

Article Source : PTI

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CCI clears Star Health acquisition by WestBridge, Rakesh Jhunjhunwala

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