Dubai's Abraaj Group to buy majority stake in India's Care Hospitals

Abraaj tied up with India's Aditya Birla Group to invest jointly in building and operating new solar power plants


Reuters January 13, 2016
Arif M Naqvi, Founder and Group Chief Executive, Abraaj Capital, of the United Arab Emirates PHOTO: REUTERS

MUMBAI: Abraaj Group, a Dubai-based private equity investor, said on Wednesday it plans to buy a majority stake in Quality CARE India Ltd, which runs CARE Hospitals, from global PE firm Advent International, marking the emerging markets-focused firm's latest investment in India.

Abraaj plans $2 billion investment in K-Electric

CARE, which operates a multi-specialty chain of 16 hospitals across nine cities, plans to expand in "underpenetrated" regions of India, as well as enter other markets where Abraaj operates, the Dubai firm said in a statement.

Abraaj tied up with India's Aditya Birla Group in October to invest jointly in building and operating new solar power plants in the country.

Strategic sale: K-Electric offloads Rs6.58b worth of shares

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