Brief: Aster DM Healthcare Says Aster's India And GCC Business Separation Nearing Completion

Aster DM Quality Care

20/03/2024 10:33

March 20 (Reuters) - Aster DM Healthcare Ltd  ATRD.NS :
    * ASTER'S INDIA AND GCC BUSINESS SEPARATION AND PROPOSED
INVESTMENT BY FAJR CAPITAL-LED CONSORTIUM NEARING COMPLETION
    * UPON COMPLETION OF TRANSACTIO, INTENDS TO DECLARE
SUBSTANTIAL
PORTION OF PROCEEDS AS DIVIDENDS
    * FAJR CAPITAL-LED CONSORTIUM OBTAINED NECESSARY APPROVALS
FROM 
KINGDOM OF SAUDI ARABIA’S GAC
    * IN INDIA, PROMOTERS PLAN TO CONTINUE TO HOLD THEIR
EXISTING
STAKE IN CO
    * PLANS TO ADD 1500 BEDS BY FY27
    * WILL BE LOOKING AT ADDING BED CAPACITY TO EXISTING
HOSPITALS IN
MEDCITY, MIMS KANNUR BY ABOUT 100 BEDS EACH
    * PLANNED AN OUTLAY OF 8.50-9.00 BILLION RUPEES  FOR 
DRIVING 
EXPANSION
    * IN GCC, COMPANY HAS PLANS TO EXPAND ITS ASTER PHARMACY
BUSINESS
IN KINGDOM OF SAUDI ARABIA
    * 180 RETAIL STORES SET TO OPEN WITHIN NEXT 3-5 YEARS IN GCC
    * IN UAE, ALL SET TO LAUNCH MEDCARE ROYAL HOSPITAL, A
126-BED
SUPER SPECIALTY HOSPITAL

Source text for Eikon:  ID:nBSE2mk8nK 
Further company coverage:  ATRD.NS 

 ((Reuters.Briefs@thomsonreuters.com;))