Apax Reaps $97M From Indian Hospital Co. Stock Sale

Law360, New York (February 11, 2013, 3:49 PM EST) -- U.K. private equity house Apax Partners LLP has sold half of its 9.6 percent stake in Apollo Hospitals Enterprise Ltd., India's largest hospital owner, to Oppenheimer Funds Inc. for more than 5.2 billion Indian rupees ($96.9 million), an Apax spokesman said Monday.

Apax acquired an 11 percent stake in Apollo Hospitals, which manages and owns roughly 40 hospitals throughout India, for about $100 million in 2007. The firm sold half of its current stake — roughly 4.8 percent of Apollo Hospitals stock — to Oppenheimer for...
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