Gulf consortium acquires 65% of Aster DM Healthcare’s GCC unit

Gulf consortium acquires 65% of Aster DM Healthcare’s GCC unit

Aster DM Healthcare Limited announced the separation of its business in the GCC and India into two independent entities.   Under the separation plan, a consortium led by Abu Dhabi Investment Council-backed private equity firm Fajr Capital acquired a 65% stake in Aster’s GCC arm. The company’s founders, the Moopen family, now retains a 41.88% stake in its Indian unit, alongside management and operating rights.     The deal was concluded, valuing the GCC business at an enterprise value of $1.7 billion (AED 6.2 billion), according to a company statement, which indicated that the 65% stake sale amounted to about $1.1 billion (AED 4 billion), as the company did not disclose the deal’s value.   The Fajr Capital-consortium includes the Emirates Investment Authority, Al Dhow Holding, Hana Investment Co. (a subsidiary of Olayan Finance), and Wafra International Investment Co., in addition to other regional and international investors.   In November 2023, Aster received board approvals to separate its businesses in the GCC and India and establish two separate healthcare companies that will benefit from strategic and financial resilience. The plan was also greenlit by its shareholders last January.   This transaction was subject to customary regulatory approvals and closing conditions, which were all met and completed, it underlined.   Provided that the Moopen