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INDIAN (B)

HDFC to buy Apollo Munich Health Insurance

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HDFC has said it will buy a 51.2% stake in Apollo Hospital Group’s insurance arm, Apollo Munich Health Insurance Company for Rs 1,347 crore. German reinsurance company Munich Re, which formed the joint venture with Chennai-based Apollo Hospitals, will pay Rs 294 crore to Apollo Hospitals Enterprise Ltd and Apollo Energy Ltd as termination fee.



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