Business

GIC, Capital buy KKR stake in Max Health

Singapore’s sovereign wealth fund GIC and US financial services company Capital Group were among others to buy global investment firm KKR’s entire 27.54 per cent stake in Max Healthcare Institute. Several domestic institutional investors were also part of the block deal, which was struck on Tuesday.

US private equity major KKR, which was the largest shareholder, exited the New-Delhi based hospital chain for about Rs 9,290 crore. Max Healthcare’s shares soared as high as 12 per cent intra-day and closed up 9.72 per cent at Rs 396.70. KKR, which held the stake through an affiliate firm Kayak Investments Holding, sold its entire 267 million shares. Sources said the sale was at Rs 353 a share.




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