Apax intends to sell just over half of the 9.67 per cent stake it held in September 2012, according to Bloomberg, which quoted Reddy, pictured.
Reddy said Apax had “been telling us” about exiting Apollo, which it first invested in back in 2007, adding, “I will buy it maybe, or take it from the market. I have two choices.”
Apax paid about $104m for an 11.5 per cent stake in Apollo Hospitals in 2007, joining investors including the Bank of New York, Bisikan Bayu Investments Mauritius, FID Funds and Emerging Markets Growth Fund.
Reports last year confirmed Apax has called time on marketing its eighth buyout fund after taking the decision that its €9bn target was too high.
The firm is understood to have set a soft March deadline for commitments from investors, partly in an effort to pressure cash-constrained and undecided investors to commit.
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