The board of directors of Chennai-based corporate hospital group Apollo Hospitals Enterprise has approved the proposal for executing a definitive share purchase agreement (SPA) for the acquisition of a 50% equity stake held by
IHH Healthcare (IHH), in Apollo Gleneagles Hospital, Kolkata (AGHL), a joint venture in which the group holds a
50% equity stake, for a cash consideration of Rs 410 crore.
AGHL runs a 750-bed multispeciality hospital at Kolkata and is currently a 50:50 JV between Apollo Hospitals and
IHH. Post the transaction closure which is expected by mid-December 2020, AGHL would become a 100% subsidiary of Apollo Hospitals.