Khaitan & Co advised Gleneagles Development, a subsidiary of Malaysia’s IHH Healthcare, when it recently exited its joint venture with Apollo Hospitals Enterprises (AHEL) in Apollo Gleneagles Hospitals in Kolkata.
AHEL was advised by Shardul Amarchand Mangaldas & Co. The agreement for Gleneagles Development’s ₹4.1 billion (US$55.3 million) divestment of its 50% stake in Apollo Gleneagles Hospitals to AHEL was signed on 11 November. The deal closed on 22 April.
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