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Narayana Hrudayalaya completes acquisition of HCCI

Press Trust of India  |  New Delhi 

Hrudayalaya today said it has completed buyback of 71.4 per cent shareholding in City (HCCI) from Ventures for USD 32.26 million. The company earlier held 28.6 per cent stake in City through its wholly owned subsidiary Cayman Holdings Ltd. The funds for the buyback were transfered on January 3, 2018 and the buyback has been concluded on January 12, Hrudayalaya said in a filing. Consequent to this buyback HCCI has become a 100 per cent step-down subsidiary of the company, it added. In an earlier filing to the bourses, Hrudayalaya had said it had entered into definitive agreement with Ventures LLC for the buyback of 71.4 per cent shareholding in City

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 16:05 IST
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