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Axis Bank to acquire 9.9% stake in Max Bupa Health's promoter entity
TIWN
TIWN
PHOTO : TIWN
Mumbai, March 17 (TIWN) Axis Bank will acquire 9.9 per cent stake in Fettle Tone LLP, a promoter entity of Max Bupa Health Insurance.
Axis, which is privately owned, said in a BSE filing it has signed agreements with Fettle Tone LLP and its partners (on March 13). Max Bupa Health Insurance (MBHI) is as a joint venture between private equity group True North and Bupa, a global health insurance and healthcare company. Fettle Tone LLP is a special purpose vehicle (SPV) set up by True North Fund; it holds a 5.6 per cent stake in health insurance company.
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