Max India to buy Warburg Pincus' stake in Max Healthcare
Max India’s board has approved the acquisition of 16.37% stake held by Warburg Pincus group entities in Max Healthcare Institute for Rs 140 crore.
June 18, 2011 / 09:33 AM IST
Moneycontrol Bureau
Max India's board has approved the acquisition of 16.37% stake held by Warburg Pincus group entities in Max Healthcare Institute for Rs 140 crore.As a part of the deal, Max India will buy a little over 4.76 crore shares of Max Healthcare Institute from Warburg Pincus group for Rs 29.40 a share, it said in a notice to stock exchanges.The acquisition of shares is expected to be completed no later than December 15, 2011, after receipt of all regulatory approvals, Max India said.Post the acquisition, Max India will have 91.84% stake in Max Healthcare Institute.Max India shares Friday closed at Rs 177.65, up 0.4% on NSE.
