Leading healthcare service providers Aster DM Healthcare has completed acquisition of 5% stake in Quality Care India Ltd (QCIL) from BCP Asia II TopCo IV Pte Ltd (BCP) and Centella Mauritius Holdings Limited (Centella) through a share swap.
The acquisition is the first step towards the strategic merger between Aster DM Healthcare and Quality Care India announced in November, Aster DM said in a press statement on Wednesday. The merger is expected to be completed this year.
The transaction was completed by acquiring 1,90,46,028 equity shares of QCIL by Aster DM Healthcare from BCP and TPG for a value of Rs 849.13 crore. As discharge of the total purchase consideration payable, Aster DM Healthcare has allotted 1,86,07,969 equity shares (face value Rs 10 each) to BCP and Centella.
The share swap has been undertaken pursuant to receipt of necessary approvals, including shareholder consent, in-principle approval from BSE and NSE, and CCI approval and is subject to the final listing and trading approval from BSE and NSE for the new equity shares allotted to BCP and Centella by Aster, the statement noted.
Dr Azad Moopen, Founder Chairman, Aster DM Healthcare, said: “The acquisition of 5% stake in QCIL through a share swap is the first step towards the strategic merger between Aster DM Healthcare and QCIL.”
“This move lays the foundation for a unified, future-ready healthcare network with a strengthened pan-India presence. As we progress toward full integration, our focus remains firm towards creating significant long-term value for all our stakeholders,” Moopen added.
The newly issued shares will have equal rights with existing equity shares of Aster.
The merged entity (subject to approvals) ‘Aster DM Quality Care’ will be jointly controlled by Aster promoters and BCP.
