Aster DM Healthcare has received approval for the sale of shares held by Affinity in Aster DM Healthcare FZC to Alpha GCC Holdings.
The total transaction amounts to USD 1.01 billion, with $903 million payable at closing.
The sale is expected to conclude in the fourth quarter of the financial year ending 2024.
Additionally, contingent events may result in receiving up to $98.8 million.
The buyer will be owned by the promoter/promoter group of Aster India, with funds managed by Fajr Capital Advisors Ltd.
The ownership ratio between the promoter of Aster India and Fajr Capital Advisors is 35:65.
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