New Delhi: Radiant Life Care said on Monday that it, along with global investment firm KKR, will acquire a majority stake in the joint venture Max Healthcare Institute Ltd from Max India.
A Radiant Life statement here said the all cash transaction includes its purchase of a 49.7 per cent stake in Max Healthcare from South Africa-based hospital operator Life Healthcare International Proprietary Ltd.
“Radiant Life Care Private Limited, backed by global investment firm KKR has entered into a transaction whereby its shareholders it will acquire a majority stake in Max Healthcare Institute Limited from Max India Ltd,” it said. “The acquisition will be undertaken through a series of transactions, including Radiant’s purchase of a 49.7 per cent stake in Max Healthcare from South Africa-based hospital operator Life Healthcare in an all cash deal, followed by demerger of Radiant’s healthcare assets into Max Healthcare which will result in KKR and Radiant promoter Abhay Soi together acquiring a majority stake in Max Healthcare.”
Upon closing of the transaction, Abhay Soi will lead the combined company as its Chairman, supported by a strong leadership team, the statement added. (IANS)
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