Actis sells 10% stake bought in August in Asiri Central

Wednesday, 9 January 2013 02:06 - - {{hitsCtrl.values.hits}}

The pan-emerging markets private equity firm Actis has sold its 10% stake in Asiri Central Hospitals Plc for Rs. 563 million.

The stake amounting to 2.3 million shares was bought at Rs. 250 each by Asiri Hospital Holdings Plc, thereby increasing its stake in subsidiary to 98.55%, as part of the Asiri Group restructuring.

Actis originally bought the stake in August last year at the same price per share from Softlogic Holdings and its subsidiary Dai-Nishi Securities Ltd. This deal resulted in the Softlogic Group realising a capital gain of Rs. 288 million.

In October last year Actis announced $ 32 million investment in 604-bed Asiri Hospitals Group including taking up 19% stake in Asiri Hospital Holdings Plc for Rs. 2.2 billion via a private placement.

Following the investment Asanka Rodrigo and Viraj Mahadevia from Actis joined the Board of Asiri Hospital Holdings Plc.

Actis invests exclusively in the emerging markets with a growing portfolio of investments in Asia, Africa and Latin America and US$ 5 billion of funds under management. Actis currently has $ 1.2 billion invested in 16 companies in South Asia.