HDFC to buy Apollo Munich Health Insurance

HDFC to buy Apollo Munich Health Insurance
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.