Norwest Venture Partners nearing 40 percent acquisition in Regency Healthcare for Rs 600 crore
New Delhi: Norwest Venture Partners is reportedly on the verge of acquiring a 40% stake in Regency Healthcare in a deal amounting up to ₹600 crore. The transaction will encompass both an expansion of the equity base and a transfer of existing shares to the buyer, backed by Wells Fargo, sources familiar with the matter informed ET.
Wells Fargo, the US banking giant, is the principal institutional limited partner in Norwest Venture Partners. It's anticipated that Norwest and Regency Healthcare will finalize an agreement within the forthcoming two weeks, the aforementioned sources disclosed.
Regency Healthcare, promoted by Kanpur-based Atul Kapoor, operates a sizable 1,000-bed hospital in the city. Additionally, in a joint venture with Germany's Fresenius Medical Care, a global frontrunner in managing end-stage kidney diseases, it administers dialysis clinics. Back in 2016, International Finance Corporation (IFC) and HealthQuad invested roughly $14 million in Regency Healthcare. Both will exit as part of the arrangement.
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