CCI clears Star Health acquisition by WestBridge, Rakesh Jhunjhunwala

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".

Read Also: CCI Approves Acquisition of Star Health by Jhunjhunwala led Safecrop Holdings

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.

Read Also: Rakesh Jhunjunwala led consortium to acquire Star Health for Rs 6500 crore : Report