Aster Shares Jump as $1.5 Billion Unit Draws BPEA, OTPP Interest - Bloomberg

Aster Shares Jump as $1.5 Billion Unit Draws BPEA, OTPP Interest - Bloomberg

Private equity firm BPEA EQT and Ontario Teachers’ Pension Plan Board are among firms considering a deal to acquire Aster DM Healthcare Ltd. assets including its India business, according to people familiar with the matter.

BPEA EQT and OTPP have expressed preliminary interest in the hospital operator’s business in the South Asian nation, the people said. A deal would help the investors tap into the growth potential of health-care services in the country, the people said, asking not to be identified because the matter is private. Others interested in potential bids for Aster’s India business include Blackstone Inc. and KKR & Co., the people said.

Aster shares soared as much as 9.6% on Thursday, the most in three months, according to data compiled by Bloomberg. They were up 6.9% at 9:31 a.m. in Mumbai, valuing the company at about $2.1 billion.

Prospective acquirers could decide to team up, and deal considerations could also lead to other transactions, including a full takeover of the company, the people said.

Separately, Dubai-based private equity firm Fajr Capital is part of a consortium seeking to buy a majority stake in Aster’s Gulf business, Bloomberg News reported in March.