A consortium of private equity firms WestBridge Capital and Madison Capital and ace stock market investor Rakesh Jhunjhunwala are acquiring Star Health & Allied Insurance Company Ltd.The buyers’ consortium, has signed definitive agreements to acquire the insurer from existing shareholders including Star Health Investments, and private equity firms ICICI Venture, Tata Capital and Apis Partners, reported VCCircle..The media reports have pegged the deal value at around Rs 6,500 crore..Nishith Desai Associates acted for WestBridge Capital and Madison Capital and the team was led by Nishchal Joshipura, Abhinav Harlalka, Rishabh Sharma..L&L Partners too acted for Madison Capital and the team was led by Partners Sundeep Dudeja and Vaibhav Kakkar..Trilegal advised Rakesh Jhunjhunwala with a team led by Partners Sridhar Gorthi and Ashwyn Misra.Platinum Partners acted for Star Health and some selling shareholders. The team was led by Partner Gautam Bhat..AZB & Partners represented the Promoters with a team led by Partner Bhuvana Veeraragavan..Chennai-based Star Health is the largest health insurance company in India with a market share of 10.6% in health insurance across all the general insurance companies as on March 31, 2018.
A consortium of private equity firms WestBridge Capital and Madison Capital and ace stock market investor Rakesh Jhunjhunwala are acquiring Star Health & Allied Insurance Company Ltd.The buyers’ consortium, has signed definitive agreements to acquire the insurer from existing shareholders including Star Health Investments, and private equity firms ICICI Venture, Tata Capital and Apis Partners, reported VCCircle..The media reports have pegged the deal value at around Rs 6,500 crore..Nishith Desai Associates acted for WestBridge Capital and Madison Capital and the team was led by Nishchal Joshipura, Abhinav Harlalka, Rishabh Sharma..L&L Partners too acted for Madison Capital and the team was led by Partners Sundeep Dudeja and Vaibhav Kakkar..Trilegal advised Rakesh Jhunjhunwala with a team led by Partners Sridhar Gorthi and Ashwyn Misra.Platinum Partners acted for Star Health and some selling shareholders. The team was led by Partner Gautam Bhat..AZB & Partners represented the Promoters with a team led by Partner Bhuvana Veeraragavan..Chennai-based Star Health is the largest health insurance company in India with a market share of 10.6% in health insurance across all the general insurance companies as on March 31, 2018.