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.