HDFC to acquire 51% in Apollo Munich for ₹1,347 crore

HDFC on Wednesday said it will acquire Apollo Hospitals' entire 50.8% stake in Apollo Munich Health Insurance and 0.4% held by some employees for ₹1,347 crore. Apollo Munich is a joint venture between Chennai-based Apollo Hospitals and German reinsurer Munich Re. Post the deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company.