"Bupa will pay around Rs 191 crore to Max India in an all cash transaction, to increase its stake in Max Bupa from 26 percent to 49 percent," Max Bupa Health Insurance said in a statement.
Bupa, it said, has executed agreements to acquire an additional 23 percent stake in Max Bupa, one of India's leading standalone health insurers.
The UK health care group was the first foreign insurer to announce its intent to increase its stake to 49 percent in its Indian health insurance subsidiary after the government relaxed FDI participation rules for insurance companies.
The new agreements will come into force after the requisite regulatory clearances have been secured from the Foreign Investment Promotion Board (FIPB) and the Insurance Regulatory and Development Authority of India (IRDAI).


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