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Wednesday, February 12, 2025

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Reuters: Aster investors seek to sell stake in Indian unit

Listed in Mumbai and based in the United Arab Emirates, Aster operates 32 hospitals, 127 clinics and 521 pharmacies in India and the United Arab Emirates. Reuters reported last month that the ongoing talks relate to the company’s unity in India and come as Aster tries to spin off its Gulf business and sell a majority stake.

The two sources said Aster and his advisers had approached private companies KKR & Co and Max Healthcare Institute, one of India’s largest hospital chains, for initial discussions on a possible sale of the stake. investors.

Investors in Aster considering a sale are Olympus Capital, which has a 19% stake, and Mauritian company Rymco Investments, which has a 12% stake.

Both sources said Aster had appointed New York-based investment bank Moelis & Company to handle the deal.

In the fiscal year ended March 31, Aster’s revenue rose 16% to $1.46 billion, while net profit reached $51.36 million.

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Arab Desk
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The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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