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HDFC and its subsidiary HDFC Ergo have received all necessary approvals to acquire majority stake in Apollo Munich Health Insurance Co. After acquiring majority stake in Apollo Munich from the Apollo Hospitals group, it will merge the company with its arm HDFC Ergo. HDFC will acquire 50.8 per cent from the Apollo Hospitals group for ₹1,336 crore and 0.4 per cent from the employees for ₹10.84 crore. The acquisition by HDFC is expected to be completed by January 9, it had then said.
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