Healthcare major Manipal Hospitals has sought approval from the fair trade regulator CCI to acquire Pune-based Sahyadri Hospitals from global investor Ontario Teachers' Pension Plan Board in a deal pegged at around Rs 6,400 crore.
Illustration symbolising India's evolving healthcare landscape as Manipal Hospitals moves to acquire Sahyadri Hospitals in a major expansion move. (Source: freepik)
The companies did not share the deal size, but industry sources estimate the transaction to be in the range of Rs 6,200-6,400 crore.
"The proposed transaction envisages the acquisition of up to 100 per cent shareholding by the acquirer (Manipal Hospitals Pvt Ltd) in the target (Sahyadri Hospitals Pvt Ltd) in multiple tranches," according to a notice filed with the Competition Commission of India (CCI).
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