South Africa-based hospital chain Life Healthcare Group Holdings Ltd is looking to sell its 49.7% stake in Max Healthcare Ltd, Bloomberg reported citing persons aware of the development.
Last month, VCCircle first reported that Life Healthcare was looking to sell its stake in Max Healthcare. VCCircle also reported that Life Healthcare had emerged as a new potential strategic investor in Fortis Healthcare, the second-largest hospital firm by revenues and market value.
Investment bank Barclays PLC is given the mandate to find a buyer, the newswire reported.
Life Healthcare could seek a valuation of $406 million (Rs 2,578 crore) for its stake, the report cited a person as saying.
Launched in 2000, Max Healthcare is an equal joint…
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