The business has been sold to Alpha GCC Holdings, which will be owned by the promoter/ promoter group of Aster India and funds managed by Middle East private equity firm Gulf-based Fajr Capital Advisors.
UAE-based hospital chain Aster DM to sell stake in its Gulf business for $1bln zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
“The board of directors of Affinity approved the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings Limited and the execution of definitive agreements in connection with the Transaction,” said Aster in a filing.
The buyer, Alpha GCC Holdings, will be owned by the promoter/ promoter group of Aster India and funds managed by Middle East private equity firm Fajr Capital Advisors Limited in the shareholding ratio of 35:65, respectively.
Aster DM Healthcare plans to sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion, aiming to separate its operations in India and the Middle East. The buyer, with a shareholding ratio of 35:65 owned by Aster India s promoters and funds managed by Fajr Capital Advisors Limited, will acquire the stake.