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Home Healthcare

Apollo Hospitals to buy IHH’s 50% stake in AGHL for Rs 410 cr

Financial Express by Financial Express
September 30, 2020
in Healthcare
Reading Time: 1 min read
129 5
0
Apollo Life

The board of directors of Chennai-based corporate hospital group Apollo Hospitals Enterprise has approved the proposal for executing a definitive share purchase agreement (SPA) for the acquisition of a 50% equity stake held by
IHH Healthcare (IHH), in Apollo Gleneagles Hospital, Kolkata (AGHL), a joint venture in which the group holds a
50% equity stake, for a cash consideration of Rs 410 crore.

AGHL runs a 750-bed multispeciality hospital at Kolkata and is currently a 50:50 JV between Apollo Hospitals and
IHH. Post the transaction closure which is expected by mid-December 2020, AGHL would become a 100% subsidiary of Apollo Hospitals.

Tags: Apollo Lifeupasana kamineni
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Financial Express

Financial Express

The Financial Express is an Indian English-language business newspaper owned by The Indian Express Group. It has been published by the Indian Express group since 1961.

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