Life Healthcare to sell entire 49.7% stake in Max Healthcare for $293 mn

South African private hospital group Life Healthcare said on Wednesday it will sell its entire 49.7 percent stake in India’s Max Healthcare to a global investment firm for 4.3 billion rand ($293 million), in order to focus on its operations elsewhere. “The Company will initially use the net disposal proceeds to settle debt as well as to invest in growth opportunities in its core markets,” the group said in a statement.

Shares in Life Healthcare jumped as much as 8.42 percent to 26.90 rand. Investment.

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