A consortium led by Westbridge Capital AIF and comprising of ace Indian investor Mr. Rakesh Jhunjhunwala and Madison Capital have executed definitive agreements for the acquisition of Star Health & Allied Insurance Company Limited from its existing shareholders (which includes Tata Capital, ICICI Ventures and Apis) with deal value in vicinity of USD 1 billion. Star Health is the largest company in the health insurance space in India.
Press coverage relating to the transaction is available here, here and here.
We, at Nishith Desai Associates, acted as legal and tax counsel to Westbridge Capital AIF and Madison Capital advising them on the legal, tax, regulatory and strategic aspects for the acquisition.
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