1 Min Read
SINGAPORE, March 2 (Reuters) - A unit of Malaysian sovereign fund Khazanah has launched a block deal to sell a $160 million worth of shares in India's Apollo Hospitals Enterprise Ltd , a deal term sheet seen by Thomson Reuters publication IFR showed on Thursday.
The Khazanah arm, Integrated (Mauritius) Healthcare Holdings Ltd, is selling about 8.4 million shares, or a 6 percent stake, in the hospital chain operator, with an option to upsize for an undisclosed amount, the term sheet showed.
As of the end of December, the Khazanah arm owned 10.94 percent of Apollo Hospitals.
The shares are being sold at a price range of 1,267 rupees to 1,320 rupees apiece. Apollo Hospitals shares fell 0.4 percent to 1,320.55 rupees on Thursday.
Deutsche Bank is the sole bookrunner for the deal. (Reporting by S. Anuradha of IFR; Writing by Devidutta Tripathy; Editing by Rafael Nam)