Aster, Care Hospitals merger deal may be finalised today, Health News, ET HealthWorld
New Delhi: Hospital chain Aster DM Healthcare‘s board will meet today to possibly finalise reverse merger with private equity firm Blackstone backed Care Hospitals, sources told ET.
Shares of Aster DM Healthcare gained 2.51% and were trading at Rs 500.10 on BSE on Friday morning at 10.30 am.
Emails sent to Aster DM Healthcare remained unanswered.
Aster DM told stock exchanges early this week that the board will be meeting to evaluate and approve the proposal for issuance of equity shares by way of preferential allotment of up to 5% paid-up capital of the company (on post issue basis).
Aster DM has a market capitalization of RS 24,975.65 crore.
Sources told ET that the deal will result in a new entity where Blackstone will hold 34%, TPG, which is also a stakeholder in CARE hospitals, will hold 11%, and the Moopen family, which owns 42% of Aster DM, will hold around 23%.
An investor conference of Aster DM was scheduled today at 5 pm.
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