Aster DM Healthcare shares skid 4% on plan to divest Gulf biz; analysts bullish

Gulf business to be sold for $1.01 billion

In an exchange filing on November 28, Aster DM Healthcare said that the company will separate the India and GCC businesses into two distinct and standalone entities which will unlock value for the shareholders by allowing both businesses to adopt a market-focused strategy and create sustained long-term growth.

Under the separation plan, a consortium led by UAE-based private-equity firm Fajr Capital will acquire a 65% stake in the ownership of the GCC business, Aster DM Healthcare FZC. The Moopen…