Key Points
Aster DM Healthcare, a Dubai-based hospital chain, plans to seek private equity investment for its Indian operations after completing the sale of its business in the Gulf Cooperation Council (GCC) countries...
Azad Moopen, chairman of Aster DM Healthcare, said in an interview to ET...
The company's board earlier this week approved the separation and sale of its business in the GCC countries to a consortium led by UAE-based Fajr Capital for $1 billion...
He added that investor enthusiasm for the Indian arm of the business has surged since the announcement of its separation from the GCC operations, driven by the far more promising growth prospects of the Indian market...
We don't have issues from banks for funding (expansion)," Moopen said.. Aster has proposed to use most of the proceeds from the GCC business sale to pay dividends to shareholders, and the rest for business expansion...
You might be interested in
Aster DM sells stake in its Gulf business for $1.01 billion
28, Nov, 23Aster 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.
Aster DM Healthcare separates India, GCC businesses; sells stake in Gulf biz for $1.01 bn
29, Nov, 23Aster DM announces separation of India, GCC businesses: According to a filing by the healthcare provider, the Gulf business has been sold for $1.01 billion.