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

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Pharma Sector

Pharma Sector

In race for bigger margins, drug makers willing to lose the India "advantage".  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

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