Apax sells part of stake in Apollo Hospitals for $97 million

MUMBAI Mon Feb 11, 2013 10:09pm IST

Related Topics

Stocks

   

MUMBAI (Reuters) - Private equity firm Apax Partners LLP sold half its stake in Apollo Hospitals Enterprise Ltd (APLH.NS), India's largest hospital chain, to Oppenheimer Funds Inc for about 5.23 billion rupees.

U.S.-based Oppenheimer Funds bought 6.3 million shares, or 4.8 percent of the company, from Apax at 830 rupees per share, stock exchange data showed on Monday.

Sources told Reuters in September that UK-based Apax was planning to exit Apollo Hospitals.

Apollo has about 50 owned or managed hospitals with total capacity of more than 8,250 beds.

In 2007, Apax paid about $100 million for an 11 percent stake in Apollo. It held a 9.6 percent stake before the deal announced on Monday.

Apollo shares dipped 0.39 percent to close at 836.80 rupees.

(Reporting by Indulal P.M.; Editing by Tony Munroe and Helen Massy-Beresford)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage