India's Aditya Birla Group (ABG) joins hands with South African MMI Holdings Ltd for their recent health insurance business. As per a statement issued by the group's financial services division Aditya Birla Financial Services Group (ABFSG) has come on board signing a Memorandum of Understanding (MoU) with MMI Holdings to venture into the health insurance market. The Indian and the South African groups would enter into a formal joint venture agreement. The Indian group would hold 74 percent stake in the proposed venture while the South African company would hold 26 percent. The transaction is subject to the execution of the respective
