Aster’s India and GCC business separation and proposed investment by Fajr Capital-led consortium nearing completion

• In November 2023, Aster DM Healthcare Limited announced its plan to sell the shares held by Affinity Holdings Pvt Ltd (“Company”), a wholly owned subsidiary of the Company in Aster DM Healthcare FZC to Alpha GCC Holdings Limited (“Transaction”).
• The plan essentially was to separate Aster’s India and GCC businesses to unlock long-term value, with a Fajr Capital-led consortium to acquire a 65% stake in the Company’s GCC business. The separation plan is now nearing completion, with key regulatory approvals (including approval from Saudi Arabia’s General Authority for Competition) obtained and transaction milestones achieved.
• Conditions Precedent outlined in the Sale and Purchase Agreement (SPA) are now complete
• The Company’s business operations in Qatar have been brought under Aster DM Healthcare FZC

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