PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mln, term sheet shows (updated)

Aster DM Quality Care

26/03/2024 13:13

(Adds stake details, stock performance)
       March 26 (Reuters) - Private equity firm Olympus Capital
Asia plans to sell a 9.8% stake in India's Aster DM Healthcare
 ATRD.NS  for up to 19.53 billion rupees (nearly $234.5
million), according to a term sheet seen by Reuters on Tuesday.
    Olympus Capital, which owns about 19% stake in the hospital
chain, is planning the sale at 400-437.20 rupees per share. The
lower end of the range represents an 8.5% discount to Aster DM
stock's last close and no discount at the upper range.
        Aster DM and Olympus did not immediately respond to a
Reuters' request for comment.
  
        Shares of the company closed down 0.3% on Tuesday and
have gained about 6.7% so far this year.
  
        
  

($1 = 83.2970 Indian rupees)

 (Reporting by Sriram Mani and Dimpal Gulwani; Editing by Savio
D'Souza and Eileen Soreng)
 ((Dimpal.Gulwani@thomsonreuters.com;))