Date:12/10/11,
M&A,
Cross Border Deal, Announced,
South Africa's second-largest hospital chain, is acquiring a 26% stake in Analjit Singh-led Max Healthcare for INR 5160 million.
Making this one of the largest foreign investment deals in the Indian healthcare sector.
The proposed transaction values the Max India subsidiary at around INR 2,000 crore, which is almost two-and-a-half times the valuation at which private equity fund Warburg Pincus exited the healthcare company in June this year. The private equity player had sold a 16.37% stake in the unlisted hospital chain to Max India for INR 140 crore at 29.40 a share, pegging the valuing of the company at INR 855 crore.
"This will be an all-cash transaction. Life Healthcare is paying an entry premium for accessing the Indian market," said Max India Managing Director Rahul Khosla. Max India shares fell marginally to close at 117.90 on the Bombay Stock Exchange.
The proposed transaction values the Max India subsidiary at around INR 2,000 crore, which is almost two-and-a-half times the valuation at which private equity fund Warburg Pincus exited the healthcare company in June this year. The private equity player had sold a 16.37% stake in the unlisted hospital chain to Max India for INR 140 crore at 29.40 a share, pegging the valuing of the company at INR 855 crore.
"This will be an all-cash transaction. Life Healthcare is paying an entry premium for accessing the Indian market," said Max India Managing Director Rahul Khosla. Max India shares fell marginally to close at 117.90 on the Bombay Stock Exchange.
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