Bupa completes acquisition of additional 23% stake in Max joint venture – Feedback

Global healthcare group Bupa has completed a transaction to pick up another 23 per cent stake in its Indian joint venture Max Bupa for Rs 206.54 crore.

Max Financial Services Ltd (formerly Max India) in November last year decided to divest a 23 per cent stake in the joint venture – Max Bupa Health Insurance Company (Max Bupa) – to raise it to the maximum sectoral cap of 49 per cent. Prior to this deal Bupa held 26 per cent in the joint venture.”We would like to inform you that subsequent to all requisite approvals, Max India Ltd transferred 23 per cent of the total paid up share capital of Max Bupa to Bupa, Singapore, for a total consideration of Rs 206.54 crore,” Max Financial Services (MFSL) said in a regulatory filing.

http://profit.ndtv.com/news/corporates/article-bupa-completes-acquisition-of-additional-23-stake-in-max-joint-venture-1418531

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