Khazanah Nasional Bhd’s arm - Integrated (Mauritius) Healthcare Holdings - has acquired 11,000,000 shares representing 8.82% stake in corporate hospital chain Apollo Hospitals from Bisikan Bayu Investments, another arm of the Malaysian sovereign fund, for Rs 470 crore. This arrangement is a part of an internal arrangement to consolidate shares under a single entity of Khazanah.
The deal comes eight months after the fund succeeded in terminating attempts of billionaire brothers Malvinder and Shivinder Singh-promoted Fortis Healthcare to acquire a majority stake in Khazanah-controlled Parkway hospital chain of Singapore.
Bisikan Bayu had picked up a 13.2 per cent in Apollo Hospitals in August 2005 from TWL Holdings for $44.23 million.
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