Mumbai: The proposed merger between Bangalore-based listed hospital chain Aster DM Healthcare and Hyderabad-based Quality CARE India is in its final stages of negotiations, and the deal is expected to be signed by the end of this month, investment banking sources told ET. The likely swap ratio in the new merged entity is expected to be 55% for Aster DM and 45% for Quality CARE. The merger will proceed through a share swap via a scheme of amalgamation approved by the National Company Law Tribunal (NCLT) but without triggering an open offer, said the bankers.
Upon completion, the merged entity, which will remain listed, will be renamed Aster DM Quality CARE. It will continue to have the backing of Aster's promoters, along with two private equity funds-Blackstone and TPG. Blackstone will likely hold about 34% and TPG 11%, while the Moopen family, which holds a 42% stake in Aster DM, will hold around 23% in the combined entity.
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