Apax Sells 4.6 Percent in Apollo Hospitals for US$98 Million (Asia)

Source: VCCircle  |  Authors: Madhav A. Chanchani

Global private equity investment group Apax Partners has sold an approximate 4.6 percent stake in Indian hospital operator Apollo Hospitals Enterprises through an open market share sale on India’s Bombay Stock Exchange for INR5.3 billion (approximately US$98 million). The shares represented approximately half of Apax’s stake in Apollo Hospitals, which stood at 9.67 percent before the transaction. Apax first invested in Apollo Hospitals in 2007, acquiring an 11 percent stake for roughly US$100 million.