Aster DM Healthcare Concludes Separation Of India, Gulf Businesses

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.