HDFC completed the acquisition of the entire 50.8% shareholding of Apollo Group, in Apollo Munich Health Insurance Company for a consideration of INR13.4bn ($206m) and 0.4% shareholding held by a few employees for consideration of INR108.4m ($2m). "This transaction will strengthen the HDFC group’s commitment to the growing health insurance segment. The combined expertise of HDFC ERGO and Apollo Munich will result in greater product innovation, wider distribution and enhanced servicing capabilities," Deepak Parekh, HDFC and HDFC ERGO General Insurance Chairman.