Deal Street

April 12, 2017

L&L, CAM, DSK Legal, Khaitan Act On Stake Sale In Religare Health Insurance Co To True North

Religare Enterprises Ltd

Diversified financial services firm Religare Enterprises Ltd entered into a definitive agreement with a consortium of investors led by private equity firm True North Managers LLP to sell its entire 80% stake in Religare Health Insurance Co to True North. The stake sale will be subject to necessary regulatory approvals.

The deal, which still needs regulatory approvals, values the Religare Health Insurance at Rs 13 billion. The move is part of Religare's strategy to consolidate and focus on its core business of financial services. Dalmia Group is also one of the investors and part of the consortium.

Luthra & Luthra represented Religare as the lead counsel and Cyril Amarchand Mangaldas assisted Religare on the diligence-related aspects of the deal; DSK Legal acted for True North; and Khaitan & Co advised Dalmia Group.

latest News

  • SC Directs Official Liquidator To Auction Sahara Group’s Aamby Valley City

    On April 17, a bench of Justices Dipak Misra, Ranjan Gogoi, and AK Sikri of the Supreme Court directed the official liquidator of the Bombay High Cour...

    Read More
  • Tax Refund Of Exporters Within Seven Days Under The New GST Regime

    Commerce and Industry Minister Nirmala Sitharaman showed a major concern of the sector, the Department of Revenue, who has promised to refund tax clai...

    Read More
  • SC Upholds Kerala High Court Decision On Quarries

    The Supreme Court upheld a Kerala High Court decision that even quarries under five hectares should get prior environmental clearance for issuance of ...

    Read More