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CVC to purchase majority stake in HCG for Rs 625 crore – Home Health Choices

BENGALURU: Private fairness agency CVC Capital is shopping for about 30% stake in most cancers care chain Healthcare Global Enterprises (HCG) for about Rs 625 crore. The deal is being executed by way of CVC’s Singapore-based funding arm, Aceso Co Pte.

The traders will subscribe to 29.5 million fairness shares and 18.5 million warrants of the corporate at Rs 130 per fairness share. They can even make an open supply for the acquisition of as much as 32.6 million totally paid-up fairness shares, representing 26% stake from the general public shareholders.

Other traders in HCG embody Temasek Holdings and Indgrowth Capital. Singapore’s Temasek holds a 9.four% stake within the broadly held firm, whereas Indgrowth Capital owns 1.2%.

HCG, began by oncologist BS Ajai Kumar, has 22 most cancers care centres and three multi-specialty hospitals and as many diagnostic centres. Ajai Kumar held nearly 20% in HCG and the promoters held a complete of 23.9% as of March 31.

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