Manipal Group is in advanced talks with Emami Group to buy the latter’s AMRI hospital chain at an enterprise value of around ₹1,500 crore, two people aware of the talks said, adding that a deal is likely to be announced soon.
While talks between Ranjan Pai-led Manipal Group and Emami have been going on for some time, the parties have failed to come to an agreement on the valuation of AMRI Hospitals until now, one of the people said on the condition of anonymity.
“Manipal was offering an enterprise value of around ₹1,500 crore for the hospital chain, but Emami Group was seeking a higher value. However, in recent weeks, the groups have come closer to an agreement on the valuation, and the deal is likely to be signed soon,” the person said.