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Max India may buy Life Healthcare's stake in JV after valuation process

Max Healthcare is among the top healthcare chains in the country with around 14 hospitals

Press Trust of India  |  New Delhi 

Novartis

on Monday said its board will consider buying out its equal partner in healthcare business, Holdings, from only after completion of valuation of their joint venture.

In February this year, had informed stock exchanges that Holdings had initiated preliminary discussions with it to explore the possibility of acquisition of the South Africans firm's shares in Institute.

"The Board of Directors of will consider the concrete proposal as and when the process of valuation of the shares of Institute Ltd is completed...," Max India said in a filing to

It is understood that Holdings is currently undertaking the valuation process.

The relevant disclosure, if any shall be made with stock exchanges within the time prescribed, Max India added.

Max Healthcare is among the top in the country with around 14 hospitals.

Shares of Max India Ltd were today trading at Rs 85.05 per scrip in the afternoon trade on BSE, up 1.73 per cent from its previous close.

First Published: Mon, April 09 2018. 17:15 IST
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