[ad_1]
MUMBAI: An funding arm of Abu Dhabi Funding Authority (ADIA) will make investments Rs 665 crore to select up a 9. 99% stake in Aditya Birla Well being Insurance coverage. The medical health insurance firm is a 51:49 three way partnership between Aditya Birla Capital and Momentum Metropolitan Strategic Investments, a subsidiary of South African-based Momentum Metropolitan.
The transaction values the well being insurer at roughly Rs 6,650 crore. The deal is topic to regulatory approvals. Upon the completion of the transaction, ADIA will personal the 9. 99% stake, Aditya Birla Capital could have 45. 91%, and Momentum Metropolitan 44. 10%. Aditya Birla Well being Insurance coverage will use this capital for development.
Aditya Birla Capital CEO Vishakha Mulye stated, “In latest occasions, well being has grow to be a key concern for all. An funding from ADIA underscores Aditya Birla Well being Insurance coverage’s robust and distinctive enterprise mannequin and the franchise now we have created. ”
The transaction values the well being insurer at roughly Rs 6,650 crore. The deal is topic to regulatory approvals. Upon the completion of the transaction, ADIA will personal the 9. 99% stake, Aditya Birla Capital could have 45. 91%, and Momentum Metropolitan 44. 10%. Aditya Birla Well being Insurance coverage will use this capital for development.
Aditya Birla Capital CEO Vishakha Mulye stated, “In latest occasions, well being has grow to be a key concern for all. An funding from ADIA underscores Aditya Birla Well being Insurance coverage’s robust and distinctive enterprise mannequin and the franchise now we have created. ”
[ad_2]