Amar Ujala buys majority stake in Cygnus Medicare for approximately INR 130 crores
Leading media firm Amar Ujala Ltd has acquired a majority stake in Cygnus Medicare Private Ltd, which operates a chain of super-specialty hospitals, for around INR 130 crore as part of its expansion plans in the healthcare segment. The investment includes a significant primary commitment which includes the transfer of two Ujala Healthcare hospitals to Cygnus Medicare as well as the secondary investment which provides an exit to angel investors and a partial exit to existing institutional investors.
Role: Jerome Merchant + Partners, Mumbai advised the Company as well as the Promoters and the existing investors i.e Somerset Indus Healthcare Fund I, Eight Roads Investments Mauritius II Limited and Evolvence India Fund II Ltd in the Company.
Members of JM+P team:The team was led by Partner Murtaza Somjee along with Associate Sumedha Kalra.