Aster DM completes GCC and India business split

  • Date: 04-Apr-2024
  • Source: AGBI
  • Sector:Healthcare
  • Country:UAE
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Aster DM completes GCC and India business split

Hospital chain Aster DM Healthcare has concluded the separation of its GCC and India businesses into two standalone entities.  As part of the separation plan, a consortium of investors led by Fajr Capital, a UAE sovereign-backed private equity firm, acquired a 65 percent stake in Aster GCC. Dr Azad Moopen, the founder chairman of Aster, […]Hospital chain Aster DM Healthcare has concluded the separation of its GCC and India businesses into two standalone entities. 

As part of the separation plan, a consortium of investors led by Fajr Capital, a UAE sovereign-backed private equity firm, acquired a 65 percent stake in Aster GCC.

Dr Azad Moopen, the founder chairman of Aster, has retained a 35 percent ownership alongside management and operational rights, the company said in a statement. 

The transaction valued the GCC business at $1 billion.

Dr Moopen will remain the chairman, while Alisha Moopen will serve as Aster GCC’s managing director and group CEO. 

The Fajr Capital-led consortium includes Emirates Investment Authority, Al Dhow Holding Company, the investment arm of AlSayer Group, Hana Investment Company, a subsidiary of Olayan Financing Company and Wafra International Investment Company, among other regional and international investors. 

The separation has established a GCC business with tremendous growth potential, focusing on