The Analjit Singh-promoted Max India Friday said that it has got approval for acquisition of private equity firm Warburg Pincus group’s entire shareholding of 16.37 percent in Max Healthcare Institute for Rs.140 crore.
‘The board of directors of the company accorded its approval for acquisition of 47,617,924 equity shares of Rs.10 each of Max Healthcare Institute Limited (MHC), constituting the entire shareholding of 16.37 percent held by entities forming part of Warburg Pincus group,’ the company said in a regulatory filing.
The acquisition is expected to be completed by Dec 15, 2011, after receipt of all regulatory approvals.
With this acquisition, the company’s equity shareholding in Max Healthcare Institute would stand increased to 91.84 percent.
Source: inewsone