Private equity firm True North Managers Llp is likely to buy Analjit Singh-promoted Max India Ltd’s entire 51 percent stake in standalone health insurer Max Bupa Health Insurance Co Ltd for Rs 510 crore, sources privy to the developments told CNBC-TV18.
The deal will value Max Bupa Health Insurance at around Rs 1,000 crore, said people familiar with the matter.
Both Max Bupa Health Insurance and True North Managers declined to comment on the acquisition. The board of Max India is meeting today discuss the offer.
Last year, Max India sold its majority stake in Max Healthcare Institute to KKR-backed Radiant Life Care.