WestBridge Consortium to Acquire Star Health
An investor consortium of WestBridge AIF, which includes ace stock market investor Rakesh Jhunjhunwala and Madison Capital, has signed definitive agreements with the shareholders of STAR Health and Allied Insurance Co. This is to purchase their stock in the country’s largest independent health insurer. The company has been valued at Rs. 6,500 Crore, according to people directly aware of it.
According to them, Star Health will be almost fully acquired. WestBridge will hold 50%, while billionaire investor Jhunjhunwala’s Rare Enterprises will own 34% and Madison will take an 11.1% stake. The remaining 4.9% is under dispute and will remain with two shareholders of Dubai-based ETA Trading.
