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Actis puts Sterling Hospitals sale on ice

1 Oct 2012

Actis is understood to have put the sale of its 80 per cent stake in Gujarat, India-based Sterling Hospitals on the backburner, despite reports that the London-based emerging markets investor had hired JM Financial in June last year to help it find a buyer.

VC Circle reported the news over the weekend, citing unnamed sources.

Actis was understood to have initiated takeover talks with potential buyers including Fortis, Parkway Hospitals and Apollo, the hospital and pharmacy chain operator backed by Apax Partners.

The remaining 20 per cent of the business is owned by former Paras promoter Girish Patel.

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