Luthra, CAM, DSK, Khaitan lead on True North acquisition of Religare Health Insurance

Religare Enterprises Ltd is selling its entire 80% stake in Religare Health Insurance Co to a consortium of investors led by private equity firm True North..This deal values Religare Health Insurance Company Limited at Rs. 1300 crores. Dalmia Group is also one of the investors and part of the consortium..Luthra & Luthra advised Religare as the lead counsel with a team led by Partner Alina Arora along with Senior Associate Samarth Gupta and Associates Apurva Zutshi and Parth Singh..Cyril Amarchand Mangaldas also assisted Religare on the diligence related aspects of the deal with a team lead by Partners Radhika Gaggar and Rohil Vashist..DSK Legal acted for True North with a team comprising Co-Founding Partner Satish Kishanchandani, Partner Narendra Dingankar, Manager Shoubhik Dasgupta Senior Associate Jayesh Kothari and Associates Tanya Singh, Sameer Raina and Jeevita Pillai..Khaitan & Co advised Dalmia Group with a team led by Partner Bharat Anand along with Senior Associates Siddharth Sawhney Sanchit Agarwal and Kevin Peter with assistance from: on Regulatory aspects: Anuj Sah (Partner) and Rohan Singh (Senior Associate)..The transaction has been reported to be the largest ever investment in any stand-alone health insurance company in India..True North has been making investments in India’s healthcare business. It acquired a 40% stake in the Kerala Institute of Medical Sciences (KIMS) hospital chain for $200 million at the end of March, reported ET.