Aster to disburse major portion of GCC sale money as dividend
₹110 to ₹120 per share." Last year, the company announced that its subsidiary would sell its stake in Aster DM Healthcare FZC to Alpha GCC for $1.01 billion, which it will use to fund its growth. “One of the reasons for the segregation of the India and GCC business was for the company to exit the GCC region…Having exited the GCC market after a long and thought-through process involving multiple advisors, the company has no intention to re-enter the same GCC market to expand its business," the company added in a statement.
Earlier, the healthcare provider told Mint that it is looking to strengthen its foothold in the northern and western regions in India. It is looking to fund this growth path through internal accruals, which have been bolstered by the sale of the GCC (Gulf Cooperation Council) business.
The company is also said to be in conversation with some private equity players to partner with. “We find Maharashtra, and Pune, highly attractive, drawing parallels with our experience in Bengaluru.
Pune offers a promising opportunity due to its similar geography and demographics," Nitish Shetty, chief executive of Aster Healthcare India told Mint earlier. “While we have a modest presence in Hyderabad, there’s a desire to expand.
Read more on livemint.com
