UAE’s Aster DM Healthcare in talks to sell stake in India business – report

UAE’s Aster DM Healthcare in talks to sell stake in India business – report

UAE-headquartered Aster DM Healthcare is in talks to sell a stake in its India business to private equity groups such as Blackstone and KKR, among others, according to media reports. The company, led by Dr. Azad Moopen, aims to capitalise on the ongoing sectoral consolidation, Economic Times, an Indian financial daily reported, citing unnamed sources. Early discussions with Blackstone and Dr. Moopen have been centered around the possibility of reverse merging the India portfolio of Care Hospitals with the listed India business, the newspaper said. The report comes after Aster DM Healthcare confirmed that it was in discussions with Dubai-based Fajr Capital and other parties as part of the separation of its GCC business from the India business. “Such discussions continue to be ongoing and no disclosable event pursuant to the LODR (listing obligations and disclosure requirements) regulations has occurred as on date,” the firm said in a disclosure to the Bombay stock exchange. Reuters earlier reported that private equity firm Fajr is in exclusive talks to buy a majority stake in Aster’s Gulf business. Aster Healthcare operates 32 hospitals, 127 clinics, 521 pharmacies, 16 laboratories and 189 patient experience centres in seven countries in West Asia and India. The