| | JULY 20238Promoters of Aster DM Healthcare, led by Azad Moopen, have begun stake-sale talks with private equity firms such as Blackstone and KKR, according to people familiar with the situation. According to the sources, the promoters may even be willing to sell a controlling stake in their India-listed hospital chain in order to capitalise on ongoing sectoral consolidation.Aster Healthcare has 32 hospitals, 127 clinics, 521 pharmacies, 16 laboratories, and 189 patient experience centres spread across seven countries in West Asia and India. According to HSBC, it increased its facility count from 300 in 2017 to over 885 in FY23, including hospitals, clinics, pharmacies, and laboratories. India accounts for 25 percent of FY23 revenues and 29 percent of ebitda.The talks, preliminary in nature, are expected to gather pace once the Gulf business is separated from the India parent and 65 percent of that is sold to a consortium led by Dubai-based PE firm Fajr Capital at a $500 million valuation, as per reports.Aster is "exploring a potential restructuring for segregation of the company's business in Gulf Co-operation Council (GCC) region from its business in India", it said in an exchange filing on July 5. "The company has engaged in discussions with various potential counterparties, including Fajr Capital. Such discussions continue to be ongoing." In line with Harley-Davidson's Chairman, President, and CEO Jochen Zeitz, high customs duties are preventing the company from selling its imported big bikes in India. As a result, the company is relying on its partnership with Hero MotoCorp to offer locally produced premium models in the nation. After deciding to end its manufacturing operations in India three years ago, the American cult bike-maker now believes that partnering with Hero was a wise choice. India imposes a 50 percent customs duty on imported fully built-up bikes.Zeitz stated in a conversation that the partnership with Hero MotoCorp is enabling the bike manufacturer in Milwaukee to pursue "volume opportunities" by launching a competitive product in the Indian market.As a result of Hero's increased manufacturing capacity and willingness to invest in the company, there are a lot of opportunities to grow our brand. So, in my opinion, you made the right choice," he said.Zeitz mentioned that the business wanted to sell its large bikes on the market without having to pay exorbitant customs duties. "The drawback is that (the high customs duty). But X440 is an Indian product. For those who want to experience the Harley brand, the fact that it has no tariffs is a plus, he said.Last week, Harley and Hero introduced their first co-developed product in India -- Harley-Davidson X 440 -- with price starting at Rs 2.29 lakh. The bike is being produced by Hero MotoCorp at its Neemrana-based plant. ASTER HEALTHCARE PROMOTERS IN TALKS TO SELL INDIAN DIVISIONHARLEY DAVIDSON TO PURSUE OPPORTUNITIES WITH HERO MOTOCORP TO SELL PREMIUM MOTORBIKES IN INDIAIN FOCUSIN FOCUS
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