EYE On Stakeholders: MAX India Group Sells Various Firms To PE Players.

Max India sold its entire 51% stake in Max Bupa Health Insurance Co Ltd to private equity firm True North Fund for over Rs 510 crore.

- Padam Singh

Earlier, it was in talks with HDFC Life to merger its life insurance business Max Life. But that failed as the insurance regulator objected to the proposed deal.

Existing Group Structure:

In fact, Max Bupa's divestment follows Analjit Singh-owned company's composite transaction involving demerger of Max India and the merger of Max Healthcare with Radiant-KKR. In the business community, savy Analjit Singh is known as a serial entrepreneur, who builds and sells his businessess. He has the ability to spot an opportunity in business like he did with telecom where he made Rs 561 crore in 1998 by selling his 41% stake in a joint venture with Hutchison Whampoa Ltd and insurance and healthcare early on, and more than that to quit when the business is on the top.

Proposed Transaction:

In a move to separate its Healthcare Business from other businesses, MIL will;

STEP I: Demerged its “Allied Health and Associated Activities” into Advaita appointed date is Feb. 1, 2019.

Max India Ltd. (MIL)

is a listed company engaged in business of health and allied businesses. It holds stake in Max Healthcare, Max Bupa Health Insurance and Antara Senior Living. Max Healthcare and Max Bupa Health Insurance are joint ventures with global leaders Life Healthcare (South Africa) and Bupa Finance Plc. (UK), respectively. The Company owns 49.70% in Max Healthcare, a 51% in Max Bupa Health Insurance and a 100% in Antara Senior Living.

Max Healthcare Institute Ltd.(MHIL)