Apollo Hospitals Enterprise Ltd.

The Board of Directors of Apollo Energy Company, an Apollo Hospitals Group Company, has approved the divestment of 23.3% shareholding in Apollo Munich Health Insurance Company (Apollo Munich) to its joint venture partner, Munich Re of Germany for Rs 163.5 crore. The proposed transaction values Apollo Munich at Rs 703 crore. Completion of the proposed transaction is subject to applicable regulatory approvals and execution of customary agreements, which is expected to be completed at the end of the first quarter of 2016.

Post consummation of the transaction, Apollo Hospitals Group’s shareholding in Apollo Munich shall stand reduced from 74.4% to 51.1%. Correspondingly, Munich Re’s shareholding in Apollo Munich shall move to 48.7% and 0.2% will be held by employees. Apollo Hospitals shall continue to hold its stake in Apollo Munich.