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 per cent stake in Aster GCC, the company said in a statement.

The Moopen family has retained a 35 per cent stake alongside management and operational rights, it added.

In the Indian operations, the Moopen family continues to hold 41.88 per cent 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 USD 907.6 million," the healthcare firm said.

In November 2023, Aster DM Healthcare had obtained board approvals to separate its Gulf and India businesses.