Apax in talks to sell stake in Apollo Hospitals

Written by Reuters | Mumbai | Updated: Sep 29 2012, 09:13am hrs
Global private equity firm Apax Partners LLP is looking to sell its 10% stake in Indian hospital chain Apollo Hospitals Enterprise, three sources with direct knowledge of the talks said, in a deal that could raise around $250 million or more.

Malaysian sovereign fund Khazanah Nasional, which already holds a 10.85% stake in Apollo Hospitals, is one of the funds in talks with Apax, said the sources, who declined to be named as they were not authorised to speak to the media.

Apax, which invested in India's largest hospital chain in September 2007, has yet to start a formal process but has also had early talks with other investors, including the Blackstone Group and Bain Capital, the sources said.

Apax's holding in Apollo Hospitals is valued at about $190 million at Thursday's closing share price of R731.90.