In a significant market development, the shares of Aster DM Healthcare witnessed a remarkable surge of 15%, reaching a 52-week high of Rs 381.80 in the opening trade on November 29. The surge followed the company’s approval of the sale of its Middle East or GCC (Gulf Cooperation Council) business to Alpha GCC Holdings Ltd, a deal valued at around $1.01 billion.
Alpha GCC Holdings is set to have shared ownership between Aster India’s promoters/promoter group, with funds managed by Middle East private equity firm Fajr Capital Advisors in a 35:65 shareholding ratio at the transaction’s closure.
Reports indicate that Aster DM Healthcare had undertaken a substantial internal restructuring to unlock value, engaging in discussions with Gulf funds and sovereign funds for stake sales in its carved-out Middle East business. Investment banks Credit Suisse and Moelis were reportedly enlisted as advisors for the strategic move.
As of 10:11 am, the shares continued their positive momentum, trading 9.72% higher at ₹365.00, reflecting the positive market response to the company’s strategic decision.
