Apax Partners offloads 4.9% in Apollo Hospitals

Deal valued at Rs 530 cr; Apax Partners holds 5.08% in healthcare major

Apax Partners Europe Managers Ltd on Tuesday sold 63,85,542 equity shares (4.59 per cent) in healthcare major Apollo Hospitals Enterprise Ltd (AHEL) for Rs 830 per share for an aggregate value of Rs 530 crore, based on the sales price. The same was picked up by investment manager Oppenheimer Funds Inc. Post sales, Apax Partners holds 5.08 per cent share in AHEL, the company said in a filing to the BSE.

Reports suggested that the private equity player was looking at exiting the investment, since the investment has reached its exit period. Apax, in March 2012, had transferred its equity shares in AHEL to HSTN Acquisition Ltd. It had picked up around 11.5 per cent shares in Apollo for $104 million Rs 420 crore based on the currency value at that time).