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Mumbai, March 14 (IANS) Axis Bank will acquire 9.9 per cent stake in Fettle Tone LLP, a promoter entity of Max Bupa Health Insurance.
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Update: 14-March-2021
Axis Bank will pick up a 9.9 per cent stake in Fettle Tone LLP, a promoter of Max Bupa Health Insurance Company, for Rs 90.8 crore to strengthen is insurance business. 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.
Axis Bank looks to strengthen position in insurance sector - The Hindu BusinessLine
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