HealthCare Global Enterprises transfers entire stakeholding in HCG Regency Oncology Healthcare

For consideration of Rs 21.23 crore

HealthCare Global Enterprises has entered into a share purchase agreement with Regency Hospital (RHL) and HCG Regency Oncology Healthcare (HCG Regency) on 28 March 2018, relating to the sale/transfer of shareholding of the Company in HCG Regency to RHL.

The company has received Rs 21.23 crore as consideration for sale of 1,54,27,781 equity shares of Rs 10 each, representing 51% of the share capital of HCG Regency.

In view of the sale/transfer of entire shareholding of the Company in HCG Regency to RHL, the Company has ceased to be a shareholder of HCG Regency, effective from the close of business hours of 28 March 2018; and accordingly, HCG Regency ceases to be a subsidiary of the Company effective from 29 March 2018. Pursuant to this, the Joint Venture Agreement dated 22 November 2016 and amendments made thereof, entered into by the Company, HCG Regency and RHL have been terminated.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel