Aster DM Healthcare Concludes Separation Of India, Gulf Businesses
Aster DM Healthcare has completed the separation of its India and GCC businesses.
![<div class="paragraphs"><p>(Source: Aster DM Healthcare website)</p></div>](https://media.assettype.com/bloombergquint%2F2023-11%2F0509d931-97b6-455c-bda2-baf433b56269%2FAster_DM_Healthcare_website.jpg?rect=0%2C0%2C860%2C484&auto=format%2Ccompress&w=200)
Aster DM Healthcare on Wednesday said it has completed the separation of its India and GCC businesses.
Under the separation plan, a consortium of investors led by Fajr Capital, a sovereign-backed private equity firm, has acquired a 65% stake in Aster GCC, the company said in a statement.
The Moopen family has retained a 35% stake alongside management and operational rights, it added.
In the Indian operations, the Moopen family continues to hold 41.88% stake, the healthcare firm stated.
"The transaction has now concluded, pursuant to which Affinity Holdings Ltd (a wholly-owned subsidiary of the company) has received a cash consideration of $907.6 million," the healthcare firm said.
In November 2023, Aster DM Healthcare had obtained board approvals to separate its Gulf and India businesses.