June 19, 2019 / 12:33 PM / a month ago

India's Housing Development Finance Corp to buy Apollo Munich Health Insurance

BENGALURU, June 19 (Reuters) - Housing Development Finance Corp on Wednesday said it will buy a 51.2% stake in Apollo Hospital Group’s insurance arm, Apollo Munich Health Insurance Company for 13.47 billion rupees.($193.40 million).

Post the deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company, the Mumbai-based company said here in a statement.

$1 = 69.6467 Indian rupees Reporting by Chandini Monnappa in Bengaluru; Editing by Rashmi Aich

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