American private equity major KKR is selling a 6.5% stake in Max Healthcare Institute Ltd, worth $300m, in a block trade, according to deal terms seen by Mint.
KKR affiliate Kayak investments Holdings Pte Ltd is selling as much as 63.47 million shares or 6.57% of Max Healthcare at an indicative price range of Rs350-369.7 apiece, a discount of as much as 5.3% to the closing price of the scrip on Tuesday.
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As of 30 June, Kayak Investments held a 47.24% stake in Max Healthcare.
Investment banks Citigroup, Jefferies and Kotak Securities are advising KKR on the transaction.
Source: Mint
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