EQT, Blackstone- and TPG-backed platform Quality Care India, Temasek- and Dr Ranjan Pai-led Manipal Hospitals and Malaysia’s IHH are expected to submit final bids post the third week of June for the proposed acquisition of Sahyadri Hospitals, three persons in the know told Moneycontrol.
The Pune-based asset, the largest private multi-speciality hospital chain in Maharashtra, is controlled by Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), which is betting big on India to achieve its target of hitting $300 billion in net assets by 2030.
“OTPP, which is eyeing an exit, is expecting a valuation in the range of Rs 5,500 crore to Rs 6,000 crore for the deal,” said one of the persons above.
Two other persons confirmed the names of the above suitors and one of them added that the binding bids are due by June 23, post the completion of ongoing due diligence.
Source: Other